When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying products for customs purposes. In this article, we will delve into the specifics of HS Code 29332920, which pertains to aromatic or modified aromatic drugs of heterocyclic compounds with nitrogen hetero-atom(s) only containing an unfused imidazole ring.
HS Code 29332920 represents a specific category of drugs that are derived from heterocyclic compounds with a nitrogen hetero-atom(s) and consist of an unfused imidazole ring. These drugs are known for their aromatic properties and are often modified to enhance their therapeutic effects.
The bound / most-favored-nation (MFN) duty rate for HS Code 29332920 is set at 6%. This means that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. The 6% duty rate is applicable to imports of this specific product category.
The quantity unit for HS Code 29332920 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported drugs falling under this HS Code.
Under various special tariff preference programs, imports of products classified under HS Code 29332920 may be eligible for duty-free treatment or preferential rates. The following countries and trade agreements offer special tariff preferences for these drugs:
These special tariff preference programs aim to promote trade and provide economic benefits to both importing and exporting countries.
HS Code 29332920 is imported into several states in the United States. The primary importing states for this product category are Indiana, New Jersey, and Nebraska. These states have a significant demand for aromatic or modified aromatic drugs of heterocyclic compounds with nitrogen hetero-atom(s) only containing an unfused imidazole ring.
Currently, there is no specific information available regarding the exporting US states for HS Code 29332920. However, it is important to note that the United States is a major player in the global pharmaceutical industry and exports a wide range of drugs and medications.
HS Code 29332920 encompasses aromatic or modified aromatic drugs of heterocyclic compounds with nitrogen hetero-atom(s) only containing an unfused imidazole ring. This product category is subject to a 6% duty rate, and certain countries and trade agreements offer special tariff preferences. Indiana, New Jersey, and Nebraska are among the prominent US states importing these drugs. The HS Code system provides a standardized framework for international trade, ensuring clarity and transparency in the classification of goods.