In international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) Code provides a universal language for identifying goods and their associated duties. One such HS code is 29183025, which represents aromatic carboxylic acids with aldehyde or ketone function but without other oxygen function and their derivatives described in additional US note 3 to section VI, not elsewhere specified.
The product description for HS Code 29183025 is quite specific. It refers to aromatic carboxylic acids that have either an aldehyde or a ketone function but do not possess any other oxygen function. Additionally, their derivatives are also included within the scope of this HS code.
When it comes to trade barriers and market access, countries often impose duties on imported goods. The bound or Most Favored Nation (MFN) duty rate for products classified under HS Code 29183025 is 6.5%. This means that every time 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 quantity unit for HS Code 29183025 is kilograms (KG). This unit of measure is used to determine the weight of the imported or exported goods.
Special tariff preference programs can provide certain benefits and exemptions for products classified under HS Code 29183025. The following countries offer preferential treatment for this code:
Each country provides varying levels of preferential treatment for HS Code 29183025. Some countries offer duty-free treatment, while others impose a minimal tariff rate. For example, imports from least-developed beneficiary developing countries eligible for the Generalized System of Preferences (GSP) under this HS code receive duty-free treatment. Similarly, Australia, Bahrain, Canada (under NAFTA), Chile, the African Growth and Opportunity Act (AGOA) countries, the Caribbean Basin Initiative (CBI) countries, Israel, the Andean Trade Preference Act (ATPA) countries, Jordan, and Morocco also offer duty-free treatment or special rates.
It is important to note that trade agreements and preferences can change over time. Therefore, importers and exporters should regularly consult the latest regulations and updates to determine the applicable preferential treatment for HS Code 29183025.
HS Code 29183025 encompasses aromatic carboxylic acids with aldehyde or ketone function and their derivatives. It is crucial for businesses engaged in international trade to understand the classification, duty rates, and special tariff preference programs associated with this HS code. By staying informed and taking advantage of available benefits, importers and exporters can optimize their trading activities and enhance their competitiveness in the global market.