The HS Code 29242905 refers to a specific product description, which includes Biligrafin acid, 3,5-diacetamido-2,4,6-triiodobenzoic acid, and metrizoic acid. This article aims to provide an in-depth understanding of this HS Code, including its product description, duty rates, quantity unit, special tariff preference programs, and importing/exporting countries.
The product description covered by the HS Code 29242905 includes three acids: Biligrafin acid, 3,5-diacetamido-2,4,6-triiodobenzoic acid, and metrizoic acid. These acids are commonly used in various industries, including pharmaceuticals and medical imaging. Biligrafin acid is a contrast agent used in X-ray examinations, while metrizoic acid is a radiopaque substance used in diagnostic procedures.
The bound or Most Favored Nation (MFN) duty rate for HS Code 29242905 is 5.3%. The MFN duty rate is applied each time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment.
The quantity unit for HS Code 29242905 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported product. It helps in calculating the customs duties, taxes, and other charges based on the weight of the goods.
HS Code 29242905 is eligible for various special tariff preference programs, allowing for reduced or duty-free treatment in specific countries. The programs applicable to this HS Code include:
These special tariff preference programs provide trade benefits to specific countries, promoting economic cooperation and development.
Based on the available data, the HS Code 29242905 is imported into the state of Nebraska in the United States. However, there is no information provided regarding the exporting US states for this specific HS Code.
The HS Code 29242905 represents a group of acids used in various industries, primarily in pharmaceuticals and medical imaging. It is important to understand the duty rates, quantity unit, and special tariff preference programs associated with this HS Code to facilitate international trade. Additionally, being aware of the importing and exporting countries can help businesses effectively navigate the market and leverage any applicable trade benefits.