When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) Code provides a globally recognized framework for categorizing goods. One such HS Code is 29224940, which is applicable to nonaromatic amino-acids, except for those containing more than one kind of oxygen function.
The HS Code 29224940 is used to identify and classify specific amino acids that do not fall under other categories. These amino acids are different from the ones that contain more than one kind of oxygen function. It is crucial to have a distinct classification for these amino acids to ensure proper trade regulations and tariffs.
The Bound / MFN duty rate for HS Code 29224940 is 4.2%. This means that whenever a country lowers a trade barrier or opens up a market, it must apply the same duty rate for this product. It ensures fair and equal treatment for all trading partners.
The quantity unit for HS Code 29224940 is kilograms (KG). This unit of measurement is used to determine the weight of the amino acids being imported or exported.
Several special tariff preference programs apply to HS Code 29224940. These programs provide duty-free treatment or special rates for certain countries. The countries that enjoy these benefits include:
These special tariff preference programs aim to promote trade and economic cooperation between countries. By providing duty-free treatment or special rates, they incentivize the import and export of HS Code 29224940.
While the data provided does not specify the exporting US states, it is crucial to note that the importing US state for HS Code 29224940 is Puerto Rico. Puerto Rico is an important destination for these nonaromatic amino acids, indicating a demand for them in the region.
HS Code 29224940 classifies nonaromatic amino-acids, other than those containing more than one kind of oxygen function. It is important to have a standardized system like the HS Code to facilitate international trade and ensure fair treatment for all trading partners. The special tariff preference programs and duty rates associated with this HS Code further promote trade and economic cooperation between countries.