When it comes to international trade, it is important to have a standardized system in place to classify different products. This is where the Harmonized System (HS) Code comes into play. Each product is assigned a unique HS code, which helps in the smooth flow of goods across borders and helps customs authorities identify the nature of the product being imported or exported.
HS Code 29182925 corresponds to the product description of 3-Hydroxy-2-naphthoic acid. Let's take a closer look at this product and explore its various aspects.
3-Hydroxy-2-naphthoic acid is a chemical compound that belongs to the naphthoic acid family. It is commonly used in the manufacturing of dyes, pharmaceuticals, and organic intermediates. The compound has a molecular formula C11H8O3 and a molecular weight of 188.18 g/mol. Its chemical structure consists of a naphthalene ring with a hydroxyl group (-OH) and a carboxylic acid group (-COOH) attached to it.
The bound / MFN (Most Favored Nation) duty rate for HS Code 29182925 is 6.5%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The duty rate is applied on the declared value of the product during importation and is subject to change based on trade agreements and negotiations between countries.
The quantity unit for HS Code 29182925 is kilograms (KG). This means that the product is measured and traded in kilograms. The quantity unit is essential for accurately determining the volume of imports or exports and calculating the applicable duties or taxes.
HS Code 29182925 is eligible for various special tariff preference programs, which provide certain benefits and exemptions to importers or exporters. Here are some of the special tariff preference programs applicable to this product:
These special tariff preference programs aim to promote international trade, foster economic cooperation, and provide incentives for countries to engage in fair and mutually beneficial trade practices.
HS Code 29182925 is imported and exported by various US states. While the specific details of importing and exporting states are not mentioned in the provided data, it is important to note that international trade involving this product takes place across multiple states in the United States.
The importation and exportation of 3-Hydroxy-2-naphthoic acid contribute to the global supply chain and facilitate the availability of this chemical compound for various industrial applications.
HS Code 29182925 represents 3-Hydroxy-2-naphthoic acid, a chemical compound used in the manufacturing of dyes, pharmaceuticals, and organic intermediates. It is subject to a bound / MFN duty rate of 6.5% and is measured in kilograms. Importers and exporters can take advantage of special tariff preference programs to enjoy duty-free treatment or special rates. The product is traded between different US states, contributing to international trade and economic growth.