Aromatic esters of other inorganic acids (excluding hydrogen halides) their salts and their derivatives, nesoi, fall under HS Code 29209020. This particular HS code is used to classify and identify these specific types of aromatic esters in international trade.
When it comes to trade barriers and market openings, countries must ensure that they maintain consistency for the same goods or services from all their trading partners. The bound or MFN (Most Favored Nation) duty rate for this HS code is 6.5%, which applies every time a country lowers a trade barrier or opens up a market.
The quantity unit for imports and exports of aromatic esters of other inorganic acids is measured in kilograms (KG). This unit of measurement helps in assessing the quantity and value of the traded goods.
There are several special tariff preference programs that offer different rates for imports of products classified under HS Code 29209020:
These special tariff preference programs provide duty-free treatment or special rates for imports from specific countries or regions. For example, imports from least-developed beneficiary developing countries are eligible for GSP (Generalized System of Preferences) under the subheading "Free," which means they receive duty-free treatment. Other special rates may apply based on specific trade agreements or initiatives, such as NAFTA (North American Free Trade Agreement), AGOA (Africa Growth and Opportunity Act), CBI (Caribbean Basin Initiative), ATPA (Andean Trade Preference Act), and more.
When it comes to importing aromatic esters of other inorganic acids classified under HS Code 29209020, the data shows that the top importing US states are Iowa and Montana. These states have consistently shown a demand for this particular product, potentially due to their industrial or manufacturing activities.
Overall, HS Code 29209020 plays a crucial role in classifying and tracking the trade of aromatic esters of other inorganic acids and their derivatives. It helps countries in maintaining fair trade practices and ensures transparency in international trade. The special tariff preference programs further incentivize trade by offering duty-free treatment or special rates for imports from specific countries or regions, promoting economic growth and cooperation.