In international trade, the Harmonized System (HS) Code is used to classify and identify products. Each HS Code represents a specific product or group of products. HS Code 29182150 refers to Salicylic Acid and its salts that are not suitable for medicinal use.
Salicylic acid is a versatile compound with various applications in industries such as cosmetics, pharmaceuticals, and agriculture. It is commonly used in skincare products for its exfoliating and anti-inflammatory properties. However, the HS Code 29182150 specifically excludes salicylic acid intended for medicinal purposes.
When it comes to international trade, understanding the HS Code is crucial as it helps classify and regulate the import and export of goods. The HS Code serves as a universal standard that enables countries to apply consistent rules and tariffs for specific products.
The Bound/Most Favored Nation (MFN) duty rate for HS Code 29182150 is 6.5%. This means that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. The duty rate of 6.5% applies to all imports of Salicylic Acid and its salts, not suitable for medicinal use.
The quantity unit for this HS Code is kilograms (KG). This unit of measurement is used to determine the weight or quantity of Salicylic Acid and its salts being imported or exported.
There are also special tariff preference programs associated with HS Code 29182150. These programs provide certain countries with preferential treatment or exemptions from duty payments. The following countries enjoy special rates or duty-free treatment for Salicylic Acid and its salts:
It is important to note that these special tariff preference programs are subject to change and should be verified with the relevant authorities before conducting international trade.
In terms of importing to the United States, the states of Mississippi, Rhode Island, and West Virginia are the major destinations for Salicylic Acid and its salts classified under HS Code 29182150.
On the other hand, the exporting states within the United States for this HS Code would depend on the location of the manufacturers or suppliers. It is essential for exporters to comply with relevant regulations and documentation requirements when shipping Salicylic Acid and its salts.
Understanding HS Code 29182150 and its associated regulations is crucial for businesses involved in the trade of Salicylic Acid and its salts. Compliance with customs procedures, duty rates, and special tariff programs can contribute to smooth international trade operations.