The HS code 29337920 represents the product N-Methyl-2-pyrrolidone and 2-pyrrolidone. This code is used to classify and identify these specific chemicals in international trade. Understanding the HS code and its implications can provide valuable information for businesses and individuals involved in importing or exporting these substances.
N-Methyl-2-pyrrolidone and 2-pyrrolidone are both organic compounds commonly used in various industries. N-Methyl-2-pyrrolidone is a solvent with excellent solvency properties, making it suitable for use in the pharmaceutical, paint, and electronics industries. It is also used as a reaction medium and extraction solvent. 2-pyrrolidone is a derivative of pyrrolidone and is used in the production of various chemicals, including pharmaceuticals, agrochemicals, and polymers.
The bound / MFN (Most Favored Nation) duty rate for HS code 29337920 is 4.2%. This means that every time a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for the import of N-Methyl-2-pyrrolidone and 2-pyrrolidone from all its trading partners. The duty rate is applied to the value of the imported goods and is collected by the customs authorities.
The quantity unit for HS code 29337920 is kilograms (KG). This unit of measurement is used to quantify the amount of N-Methyl-2-pyrrolidone and 2-pyrrolidone being imported or exported. It provides a standardized way to express the quantity of these substances in international trade transactions.
Several special tariff preference programs offer duty-free treatment for the import of N-Methyl-2-pyrrolidone and 2-pyrrolidone. These programs are designed to promote trade and economic cooperation between countries. The countries that currently offer duty-free treatment for these substances under specific programs are:
These special tariff preference programs aim to reduce trade barriers and promote economic growth by providing preferential treatment to certain goods imported from eligible countries.
Based on the available data, the following US states have been identified as importers of N-Methyl-2-pyrrolidone and 2-pyrrolidone:
These states have shown a consistent demand for these chemicals, indicating their importance in various industries within these regions.
HS code 29337920 represents N-Methyl-2-pyrrolidone and 2-pyrrolidone, which are widely used organic compounds in various industries. Understanding the HS code, its duty rates, and special tariff preference programs can help businesses and individuals navigate the complexities of international trade and make informed decisions regarding the import and export of these substances.