In international trade, products are classified using a system called the Harmonized System (HS) of tariff nomenclature. Each product is assigned a unique HS code, which helps in the uniform classification and identification of goods. HS Code 29199050 refers to nonaromatic phosphoric esters and their salts, including lactophosphates, and their derivatives.
The product description provides a broad overview of the goods covered by this HS code. Nonaromatic phosphoric esters and their salts are chemical compounds that find applications in various industries. These compounds are derived from phosphoric acid and are used in the production of plastics, flame retardants, lubricants, and as catalysts in chemical reactions.
The bound/Most Favored Nation (MFN) duty rate for HS Code 29199050 is 3.7%. The MFN duty rate is the rate applied to imports from all trading partners of a country, ensuring equal treatment for goods from different countries. This rate remains consistent unless a country lowers its trade barriers or opens up its market, in which case the same treatment must be extended to all trading partners.
The quantity unit for this HS code is kilograms (KG), which is the standard unit of measurement for trade in most countries. This unit helps in determining the quantity of nonaromatic phosphoric esters and their salts being imported or exported.
There are several special tariff preference programs available for HS Code 29199050. These programs offer favorable treatment in terms of duty rates to specific countries. The countries that receive special tariff preferences for this HS code include Australia, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Peru, Singapore, and others. These preferences may be in the form of duty-free treatment or special rates.
For example, the Generalized System of Preferences (GSP) provides duty-free treatment for imports of this HS code. The North American Free Trade Agreement (NAFTA) grants duty-free treatment to Canada and Mexico. Other programs such as the Caribbean Basin Initiative (CBI), the Andean Trade Preference Act (ATPA), and the Agreement on Trade in Pharmaceutical Products also offer special rates or duty-free treatment for specific countries.
Importing US states for HS Code 29199050 include Iowa and Montana. This information is relevant for businesses and individuals based in these states who are involved in the importation of nonaromatic phosphoric esters and their salts. Understanding the importing states can help in identifying potential markets or trade opportunities within the country.
Overall, HS Code 29199050 covers nonaromatic phosphoric esters and their salts, which are important chemicals used in various industries. The detailed product description, duty rates, quantity unit, and special tariff preference programs provide relevant information for businesses engaged in international trade. Understanding the HS code and its associated details can help businesses navigate the complexities of international trade and optimize their import-export activities.