An Overview of HS Code 29269048: Aromatic Nitrile-Function Compounds
HS Code 29269048 categorizes aromatic nitrile-function compounds that are not covered by additional U.S. note 3 to section VI. This code helps in identifying and classifying these specific compounds for international trade purposes. In this article, we will delve deeper into the product description, duty rates, quantity unit, and special tariff preference programs associated with HS Code 29269048.
Product Description:
Aromatic nitrile-function compounds encompass a wide range of chemical substances. These compounds are characterized by the presence of a nitrile (CN) group attached to an aromatic ring structure. HS Code 29269048 specifically covers aromatic nitrile-function compounds that are not mentioned in additional U.S. note 3 to section VI. This ensures that only certain aromatic nitrile compounds fall under the purview of this HS code.
Duty Rates:
The bound or most-favored-nation (MFN) duty rate for products falling under HS Code 29269048 is 6.5%. It is important to note that whenever a country reduces trade barriers or opens up its market, it must do so uniformly for the same goods or services from all its trading partners. This ensures fair and equitable trade practices.
Quantity Unit:
The quantity unit for HS Code 29269048 is kilograms (KG). This unit helps in standardizing the measurement and calculation of trade volumes for aromatic nitrile-function compounds.
Special Tariff Preference Programs:
Certain countries and regions have special tariff preference programs that provide favorable treatment or exemptions to imports falling under HS Code 29269048. Here are some notable programs and their corresponding rates:
- Free: Imports from least-developed beneficiary developing countries are eligible for the Generalized System of Preferences (GSP) under this subheading. These imports receive duty-free treatment.
- Australia Special Rate: A special tariff rate is applicable for imports from Australia.
- Bahrain Special Rate: A special tariff rate is applicable for imports from Bahrain.
- NAFTA for Canada: Imports from Canada enjoy duty-free treatment under the North American Free Trade Agreement (NAFTA).
- Chile Special Rate: A special tariff rate is applicable for imports from Chile.
- Africa Growth and Opportunity Act (AGOA): Imports from eligible African countries receive duty-free treatment under AGOA.
- Caribbean Basin Initiative (CBI): Imports from eligible Caribbean countries receive duty-free treatment under CBI.
- Israel Special Rate: A special tariff rate is applicable for imports from Israel.
- Andean Trade Preference Act (ATPA): Imports from eligible Andean countries receive duty-free treatment under ATPA.
- Jordan Special Rate: A special tariff rate is applicable for imports from Jordan.
- Agreement on Trade in Pharmaceutical Products: Imports falling under this agreement receive duty-free treatment.
- Uruguay Round Concessions on Intermediate Chemicals for Dyes: Imports falling under this agreement receive duty-free treatment.
- Morocco Special Rate: A special tariff rate is applicable for imports from Morocco.
- NAFTA for Mexico: Imports from Mexico enjoy duty-free treatment under NAFTA.
- Oman Special Rate: A special tariff rate is applicable for imports from Oman.
- Dominican Republic-Central American Special Rate (DR-CAFTA): A special tariff rate is applicable for imports from the Dominican Republic and Central American countries.
- Peru Special Rate: A special tariff rate is applicable for imports from Peru.
- Singapore Special Rate: A special tariff rate is applicable for imports from Singapore.
These special tariff preference programs aim to promote trade, enhance economic cooperation, and provide incentives for specific trading partners.
HS Code 29269048 plays a crucial role in identifying and classifying aromatic nitrile-function compounds. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for businesses engaged in international trade. By adhering to the regulations and taking advantage of the available tariff programs, importers and exporters can navigate the global market more effectively.
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