HS Code 29329970: Aromatic Heterocyclic Compounds with Oxygen Hetero-atom(s) Only

Aromatic heterocyclic compounds with oxygen hetero-atom(s) only fall under the HS Code 29329970. This code is used to classify and regulate the import and export of these specific compounds. In this article, we will delve into the details of this HS Code, including its product description, duty rates, quantity unit, and special tariff preference programs.

Product Description

HS Code 29329970 refers to aromatic heterocyclic compounds that contain only oxygen hetero-atoms. These compounds are classified as "not elsewhere specified or included" (nesoi) within the HS Code system. Aromatic heterocyclic compounds are organic compounds that contain one or more heteroatoms, such as oxygen, in their ring structure. They are commonly used in various industries, including pharmaceuticals, agrochemicals, and dyes.

Duty Rates

The bound or MFN (Most Favored Nation) duty rate for HS Code 29329970 is 6.5%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate of 6.5% to the import or export of these compounds from all its trading partners. The duty rate is a percentage of the customs value of the imported or exported goods and is collected by the customs authorities.

Quantity Unit

The quantity unit for HS Code 29329970 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported aromatic heterocyclic compounds. It helps in calculating the customs value and assessing the applicable duties and taxes.

Special Tariff Preference Programs

HS Code 29329970 is eligible for various special tariff preference programs that provide certain countries with reduced or duty-free treatment. These programs aim to promote trade and economic development. Here are some of the special tariff preference programs applicable to this HS Code:

Free: Imports from least-developed beneficiary developing countries eligible for Generalized System of Preferences (GSP) under that subheading receive duty-free treatment. This program encourages trade with developing countries and supports their economic growth.
Australia Special Rate: Australia has a special rate for imports of aromatic heterocyclic compounds with oxygen hetero-atom(s) only.
Bahrain Special Rate: Bahrain offers a special rate for these compounds, providing trade incentives between the two countries.
NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), imports of these compounds from Canada receive duty-free treatment.
Chile Special Rate: Chile has a special rate for aromatic heterocyclic compounds with oxygen hetero-atom(s) only.
Africa Growth and Opportunity Act (AGOA): Under this program, imports from eligible African countries receive duty-free treatment.
Caribbean Basin Initiative (CBI): Aromatic heterocyclic compounds from CBI countries receive duty-free treatment.
Israel Special Rate: Israel offers a special rate for imports of these compounds, promoting bilateral trade.
Andean Trade Preference Act (ATPA): ATPA provides duty-free treatment for imports from designated Andean countries.
Jordan Special Rate: Jordan has a special rate for these compounds, enhancing trade relations.
Agreement on Trade in Pharmaceutical Products: Imports of these compounds for pharmaceutical use receive duty-free treatment.
Uruguay Round Concessions on Intermediate Chemicals for Dyes: These compounds used as intermediate chemicals for dyes receive duty-free treatment under this program.
Morocco Special Rate: Morocco offers a special rate for imports of aromatic heterocyclic compounds with oxygen hetero-atom(s) only.
NAFTA for Mexico: Under NAFTA, imports of these compounds from Mexico receive duty-free treatment.
Oman Special Rate: Oman has a special rate for imports of these compounds, promoting trade with the country.
Dominican Republic-Central American Special Rate (DR-CAFTA): DR-CAFTA provides a special rate for these compounds, fostering trade between the signatory countries.
Peru Special Rate: Peru offers a special rate for imports of aromatic heterocyclic compounds with oxygen hetero-atom(s) only.
Singapore Special Rate: Singapore has a special rate for these compounds, encouraging trade with the country.

Importing US States

HS Code 29329970 is imported into various states in the United States. The states that import these aromatic heterocyclic compounds include Indiana and New Jersey. These states have a demand for these compounds due to their applications in pharmaceuticals, agrochemicals, and other industries.

Conclusion

HS Code 29329970 classifies and regulates the import and export of aromatic heterocyclic compounds with oxygen hetero-atom(s) only. This code helps in ensuring proper customs valuation, assessing applicable duties and taxes, and facilitating trade between countries. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS Code is crucial for importers, exporters, and customs authorities.