The HS Code 29224980 refers to non-aromatic esters of amino acids and their salts. These substances are classified under this code when they do not contain more than one kind of oxygen function. The code is used to classify and regulate the import and export of these specific products.
When importing or exporting goods, it is important to understand the HS code assigned to the product. HS codes are internationally recognized codes used to classify products for customs and trade purposes. They help ensure that goods are correctly identified, allowing for accurate documentation and appropriate duties and taxes to be applied.
The product description for HS Code 29224980 includes non-aromatic esters of amino acids and their salts. Amino acids are organic compounds that are essential for various biological processes in living organisms. Esters are chemical compounds formed by the reaction between an acid and an alcohol, resulting in the formation of a specific functional group.
The specific restriction mentioned in the product description is that the esters should not contain more than one kind of oxygen function. This means that the esters should not have multiple oxygen-containing groups attached to the amino acid molecule. The salts of these esters are also included in the scope of this HS code.
When it comes to the duty rate for products classified under HS Code 29224980, a 3.7% bound or MFN (Most Favored Nation) duty rate applies. The bound duty rate is the maximum rate that a country can impose on imports of a specific product. The MFN duty rate is the rate that is applied to all trading partners equally, ensuring fair and non-discriminatory treatment.
It is worth noting that certain special tariff preference programs provide duty-free treatment for products classified under HS Code 29224980. These programs include the Generalized System of Preferences (GSP) which offers duty-free treatment to eligible developing countries. Other countries such as Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic (under DR-CAFTA), Peru, and Singapore also offer special rates or duty-free treatment for these products.
When it comes to importing these products into the United States, Puerto Rico is listed as the only state that has reported imports under this HS code. However, it is important to note that this data may not be comprehensive and other states may also import products under this code.
HS Code 29224980 is used to classify non-aromatic esters of amino acids and their salts, excluding those with multiple oxygen functions. Understanding the HS code is essential for accurate classification and regulation of these products in international trade. The duty rate for this code is 3.7%, but certain special tariff preference programs offer duty-free treatment or special rates for eligible countries. Importing of these products into the United States is primarily reported in Puerto Rico.