The HS Code 29242957 refers to the product Diethylaminoacetoxylidide, which is commonly known as Lidocaine. This article will provide an extensive overview of the HS Code and its associated data.
Diethylaminoacetoxylidide, or Lidocaine, is a commonly used local anesthetic. It is often used in medical and dental procedures to numb a specific area of the body. Lidocaine works by blocking the nerve signals in the body, thereby temporarily numbing the area and providing pain relief.
The HS Code 29242957 is used to classify and identify Lidocaine for international trade purposes. The HS Code is a standardized system for classifying goods, and it is used by customs authorities around the world to determine the appropriate duties and tariffs for imported and exported products.
One important aspect of the HS Code is the Bound / MFN duty rate. In the case of Lidocaine, the Bound / MFN duty rate is free. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This encourages free trade and helps to create a level playing field for all countries.
The quantity unit for Lidocaine is kilograms (KG). This is the standard unit of measurement used to determine the quantity of the product being imported or exported.
In addition to the Bound / MFN duty rate, there are also special tariff preference programs that apply to Lidocaine. These programs provide certain countries with preferential treatment in terms of duty rates. For example, Lidocaine is free under the Generalized System of Preferences (GSP), which provides duty-free treatment for eligible products from developing countries.
Other special tariff preference programs that apply to Lidocaine include the Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Uruguay Round Concessions on Intermediate Chemicals for Dyes, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), and Peru Special Rate. These programs help to promote trade and economic development between countries by reducing or eliminating duties on certain products.
When it comes to importing Lidocaine into the United States, the data shows that the state of Nebraska is the main destination. This information can be useful for businesses and individuals involved in the importation and distribution of Lidocaine in the United States.
the HS Code 29242957 is used to classify and identify Diethylaminoacetoxylidide (Lidocaine) for international trade purposes. The Bound / MFN duty rate is free, and there are also special tariff preference programs that provide certain countries with preferential treatment. The quantity unit for Lidocaine is kilograms (KG). The data also shows that the state of Nebraska is the main destination for importing Lidocaine into the United States.