HS Code 29182908 refers to the product m-Hydroxybenzoic acid. This article aims to provide an educational overview of this HS code, including its description, duty rates, quantity unit, and special tariff preference programs. Understanding the details and implications of HS Code 29182908 is crucial for importers, exporters, and those involved in international trade.
m-Hydroxybenzoic acid is a chemical compound commonly used in various industries, including pharmaceuticals, cosmetics, and food preservation. Also known as 3-hydroxybenzoic acid, it is an organic compound with the molecular formula C7H6O3.
This acid is a white crystalline solid, soluble in water and alcohol. It possesses anti-inflammatory, antiseptic, and preserving properties, making it highly sought after in many applications. m-Hydroxybenzoic acid is often used as an intermediate in the synthesis of other chemicals or as a preservative in cosmetics and personal care products.
The bound or Most Favored Nation (MFN) duty rate is the tariff rate applied to a specific product when imported into a country. For HS Code 29182908, the bound duty rate is free. This means that countries do not impose any import duties or tariffs on m-Hydroxybenzoic acid.
When a country lowers a trade barrier or opens up its market, it must do so for all goods or services from its trading partners. This principle of non-discrimination helps promote fair trade practices and ensures equal treatment for all trading partners.
The quantity unit for HS Code 29182908 is kilograms (KG). This means that the weight or quantity of m-Hydroxybenzoic acid being imported or exported is measured in kilograms.
Using a standardized quantity unit like kilograms allows for accurate and consistent measurement during international trade transactions. It helps streamline logistics, pricing, and documentation processes.
Special tariff preference programs provide certain benefits or exemptions to specific products based on their origin or intended use. While HS Code 29182908 does not have any specific mention of special tariff preference programs, it is essential to stay updated on trade agreements and policies.
For example, countries may have preferential trade agreements such as Free Trade Agreements (FTAs) or Regional Trade Agreements (RTAs) that grant reduced or zero tariffs for specific goods. Importers and exporters should familiarize themselves with these programs to take advantage of potential cost savings and competitive advantages.
HS Code 29182908, m-Hydroxybenzoic acid, plays a significant role in various industries due to its versatile applications. Understanding the product description, duty rates, quantity unit, and staying informed about special tariff preference programs are crucial for successful import-export operations.
Whether you are a manufacturer, distributor, or consumer of m-Hydroxybenzoic acid, being knowledgeable about the HS code and its implications can help optimize your trade activities and compliance with international trade regulations.