HS Code 29214600: A Comprehensive Guide
Amfetamine (INN), benzfetamine (INN), dexamfetamine (INN), etilamfetamine (INN), and other specified INNs; salts thereof fall under the HS Code 29214600. In this article, we will delve into the details of this HS code, its product description, associated duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states.
Product Description:
The HS Code 29214600 encompasses a range of substances, including Amfetamine (INN), benzfetamine (INN), dexamfetamine (INN), etilamfetamine (INN), and other specified International Nonproprietary Names (INNs). Additionally, it includes the salts derived from these substances.
Bound / MFN Duty Rate:
The Bound / MFN (Most Favored Nation) duty rate refers to the rate at which a country imposes tariffs on imported goods. For HS Code 29214600, the Bound / MFN duty rate is free. This means that there are no tariffs or duties imposed on the import of these substances.
It is important to note that whenever 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. This principle ensures fair and equal treatment for all countries involved in international trade.
Quantity Unit:
The quantity unit for HS Code 29214600 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported substances.
Special Tariff Preference Programs:
HS Code 29214600 is eligible for various special tariff preference programs, which provide specific benefits and exemptions for importers and exporters. Some of these programs include:
1. Generalized System of Preferences (GSP): Under this program, the substances covered by HS Code 29214600 receive duty-free treatment.
2. Australia Special Rate: Australia provides a special rate for the import of substances falling under HS Code 29214600, resulting in duty-free treatment.
3. Bahrain Special Rate: Bahrain offers a special rate for the import of substances covered by HS Code 29214600, ensuring duty-free treatment.
4. NAFTA for Canada: The North American Free Trade Agreement (NAFTA) grants duty-free treatment to substances falling under HS Code 29214600 when imported to Canada.
5. Chile Special Rate: Chile provides a special rate for the import of substances falling under HS Code 29214600, resulting in duty-free treatment.
6. Caribbean Basin Initiative (CBI): Under this initiative, substances covered by HS Code 29214600 are eligible for duty-free treatment when imported to the participating countries.
7. Israel Special Rate: Israel offers duty-free treatment for substances falling under HS Code 29214600 when imported into the country.
8. Andean Trade Preference Act (ATPA): The ATPA grants duty-free treatment to substances covered by HS Code 29214600 when imported to the participating Andean countries.
9. Jordan Special Rate: Jordan provides a special rate for the import of substances falling under HS Code 29214600, ensuring duty-free treatment.
10. Morocco Special Rate: Morocco offers a special rate for the import of substances covered by HS Code 29214600, resulting in duty-free treatment.
11. NAFTA for Mexico: Similar to Canada, substances falling under HS Code 29214600 receive duty-free treatment when imported to Mexico under the NAFTA agreement.
12. Oman Special Rate: Oman provides a special rate for the import of substances falling under HS Code 29214600, ensuring duty-free treatment.
13. Dominican Republic-Central American Special Rate (DR-CAFTA): The DR-CAFTA grants duty-free treatment to substances covered by HS Code 29214600 when imported to the participating countries.
14. Peru Special Rate: Peru offers a special rate for the import of substances falling under HS Code 29214600, resulting in duty-free treatment.
15. Singapore Special Rate: Singapore provides duty-free treatment for substances falling under HS Code 29214600 when imported into the country.
Importing and Exporting US States:
HS Code 29214600 is relevant for both importing and exporting activities in the United States. Importing states refer to the states within the US that receive these substances from other countries, while exporting states are those that send these substances to international markets.
The specific states involved in the import and export of substances under HS Code 29214600 may vary depending on market demand, supply chains, and other factors. Therefore, it is essential for businesses and traders to research and identify the specific states involved in the import and export of these substances.
HS Code 29214600 encompasses a range of substances, including Amfetamine (INN), benzfetamine (INN), dexamfetamine (INN), etilamfetamine (INN), and other specified INNs; salts thereof. This HS code is associated with a free Bound / MFN duty rate and has a quantity unit of kilograms (KG). Additionally, it is eligible for various special tariff preference programs, providing duty-free treatment for importers. Understanding the intricacies of HS Code 29214600 is crucial for businesses involved in the import and export of these substances in the global market.
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