HS Code 29232020: Lecithins and other phosphoaminolipids, nesoi

Lecithins and other phosphoaminolipids, nesoi, fall under HS Code 29232020. This code is used to classify and identify these specific products for the purpose of international trade. Understanding the HS code is essential for importers and exporters to ensure compliance with customs regulations and to accurately determine the duty rates applicable to their products.

Product Description

Lecithins and other phosphoaminolipids, nesoi, refer to a group of substances that are derived from various sources, such as soybeans, eggs, and sunflower seeds. These substances are commonly used in the food industry as emulsifiers, stabilizers, and nutritional supplements. They are also utilized in the pharmaceutical and cosmetic industries for their functional properties.

Duty Rate

The bound / MFN (Most Favored Nation) duty rate for HS Code 29232020 is 5%. The MFN principle states that every time 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 ensures fair and non-discriminatory treatment in international trade.

Quantity Unit

The quantity unit for HS Code 29232020 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported products.

Special Tariff Preference Programs

HS Code 29232020 is eligible for various special tariff preference programs, which provide preferential treatment or duty-free access to certain countries. Some of these programs include:

Generalized System of Preferences (GSP) - Provides duty-free treatment for eligible products.
Australia Special Rate - Grants special rate benefits for trade between Australia and the importing country.
Bahrain Special Rate - Offers preferential tariff rates for trade with Bahrain.
NAFTA for Canada - Provides duty-free treatment for trade between Canada and the importing country.
Chile Special Rate - Offers preferential tariff rates for trade with Chile.
Caribbean Basin Initiative (CBI) - Provides duty-free treatment for eligible products from designated Caribbean countries.
Israel Special Rate - Grants duty-free treatment for trade with Israel.
Andean Trade Preference Act (ATPA) - Offers preferential tariff rates for trade with eligible Andean countries.
Jordan Special Rate - Provides preferential tariff rates for trade with Jordan.
Agreement on Trade in Pharmaceutical Products - Grants duty-free treatment for eligible pharmaceutical products.
Morocco Special Rate - Offers preferential tariff rates for trade with Morocco.
NAFTA for Mexico - Provides duty-free treatment for trade between Mexico and the importing country.
Oman Special Rate - Grants special rate benefits for trade with Oman.
Dominican Republic-Central American Special Rate (DR-CAFTA) - Offers preferential tariff rates for trade with eligible Central American countries and the Dominican Republic.
Peru Special Rate - Provides preferential tariff rates for trade with Peru.
Singapore Special Rate - Grants special rate benefits for trade with Singapore.

Importing US States

HS Code 29232020 is imported into the following US states:

Puerto Rico
North Carolina

These states are the primary destinations for the importation of products classified under this HS code.

Exporting US States

The exporting US states for products classified under HS Code 29232020 may vary. It is important for exporters to comply with US export regulations and ensure proper documentation and customs clearance for their shipments.

Understanding the HS code and its associated information is crucial for international trade. Importers and exporters should familiarize themselves with the specific HS codes applicable to their products to ensure compliance with customs regulations and take advantage of any available tariff preference programs.