The HS Code 29242901 refers to a specific product category that includes several chemical compounds such as p-Acetanisidide, p-acetoacetatoluidide, 4'-amino-N-methylacetanilide, 2,5-dimethoxyacetanilide, and N-(7-hydroxy-1-naphthyl)acetamide. These compounds are primarily used in various industries, including pharmaceuticals and chemical manufacturing.
When it comes to international trade, the HS Code plays a crucial role in categorizing and identifying goods. It is a standardized system used globally to classify products for customs and statistical purposes. The code consists of six digits, which are further extended to provide more detailed descriptions of specific products.
In the case of HS Code 29242901, it specifically encompasses the compounds mentioned earlier. Let's delve deeper into the details of this HS Code and explore its significance.
These compounds have significant industrial importance due to their diverse applications in various sectors, including healthcare, manufacturing, and research.
The Bound / MFN (Most Favored Nation) duty rate for HS Code 29242901 is "Free." This means that when a country lowers a trade barrier or opens up a market, it has to provide the same treatment to the goods falling under this HS Code from all its trading partners. This promotes fair trade practices and ensures equal opportunities for all participating countries.
The quantity unit for HS Code 29242901 is kilograms (KG). This unit is used to measure the weight or quantity of the imported or exported goods falling under this specific HS Code.
HS Code 29242901 is eligible for various special tariff preference programs, which may provide duty-free treatment or reduced duty rates for imports. Some of these programs include:
These programs aim to facilitate trade and promote economic cooperation between countries by providing preferential treatment to specific trading partners. The duty-free treatment or reduced duty rates under these programs can significantly benefit importers and manufacturers using compounds falling under HS Code 29242901.
Moreover, there are specific special rates applicable to certain countries:
This special rate applies to imports of compounds falling under HS Code 29242901 from Singapore. Importers from Singapore can avail themselves of this reduced duty rate, which can contribute to cost savings and boost trade between the two countries.
While the data provided does not mention specific exporting US states, one of the known importing US states for products falling under HS Code 29242901 is Nebraska. Nebraska's importers and manufacturers rely on these compounds for various industrial applications, contributing to the state's economy and supporting local businesses.
HS Code 29242901 encompasses several chemical compounds with diverse applications in pharmaceuticals, dyes, and other industries. Understanding the HS Code and its associated details is essential for importers, exporters, and policymakers involved in international trade. The special tariff preference programs and duty rates mentioned provide insights into the trade benefits and opportunities available for importers and exporters dealing with products falling under this HS Code. By leveraging these opportunities, businesses can foster growth and contribute to the global economy.