Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 29183010 - 1-Formylphenylacetic acid, methyl ester

When it comes to international trade, it is essential to have a system in place that classifies goods in a uniform manner. This is where the Harmonized System (HS) Code comes into play. The HS Code is an internationally recognized system for classifying products, ensuring that all countries use a consistent classification for the same goods.

One HS Code that is worth exploring is 29183010, which corresponds to the product description of 1-Formylphenylacetic acid, methyl ester. Let's delve deeper into this specific HS Code and understand its implications in international trade.

The HS Code 29183010 is used to classify the specific product of 1-Formylphenylacetic acid, methyl ester. This code helps customs authorities and traders identify and classify this particular product, making it easier to track its movement across borders.

Now, let's take a closer look at some important details related to HS Code 29183010:

• Bound / MFN duty rate: The bound / MFN (Most Favored Nation) duty rate for this HS Code is 5.8%. 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.
• Quantity unit: The quantity unit for this HS Code is kilograms (KG). This unit helps in determining the quantity of 1-Formylphenylacetic acid, methyl ester being imported or exported.
• Special tariff preference programs: There are several special tariff preference programs associated with HS Code 29183010. These programs offer various benefits and exemptions to eligible countries. Some of the programs applicable to this HS Code include:

• Free: Only imports from least-developed beneficiary developing countries eligible for GSP (Generalized System of Preferences) under that subheading receive duty-free treatment.
• Australia Special Rate
• Bahrain Special Rate
• NAFTA for Canada (duty-free treatment)
• Chile Special Rate
• Africa Growth and Opportunity Act (AGOA) (duty-free treatment)
• Caribbean Basin Initiative (CBI)
• Israel Special Rate (duty-free treatment)
• Andean Trade Preference Act (ATPA)
• Jordan Special Rate
• Morocco Special Rate
• NAFTA for Mexico
• Oman Special Rate
• Dominican Republic-Central American Special Rate (DR-CAFTA)
• Peru Special Rate
• Singapore Special Rate

These programs aim to promote trade and economic development by providing preferential treatment to certain countries or regions.

In terms of importing and exporting, HS Code 29183010 is relevant for both the importing and exporting US states. This means that this particular product can be imported from and exported to various states within the United States.

Understanding HS Code 29183010 and its associated details is crucial for businesses involved in international trade. By correctly classifying and adhering to the regulations and tariffs associated with this HS Code, businesses can ensure smooth and compliant cross-border transactions.

HS Code 29183010 - 1-Formylphenylacetic acid, methyl ester, plays a significant role in international trade. Its classification and associated details help in accurately identifying and tracking this specific product. By understanding the bound duty rates, quantity unit, and special tariff preference programs, businesses can make informed decisions and leverage the benefits offered by international trade agreements.