HS Code 29341020 refers to aromatic or modified aromatic heterocyclic compounds that contain an unfused thiazole ring. These compounds are classified under this HS code for trade and customs purposes. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, special tariff preference programs, and the states involved in importing and exporting these compounds.
The product description for HS Code 29341020 is "Aromatic or modified aromatic heterocyclic compounds, nesoi, containing an unfused thiazole ring." This means that the compounds falling under this HS code are organic compounds that have a specific chemical structure, which includes a thiazole ring. These compounds are commonly used in various industries, including pharmaceuticals, agrochemicals, and the production of dyes and pigments.
The bound / MFN duty rate for HS Code 29341020 is 6.5%. The term "bound" refers to the maximum duty rate that a country can impose on a specific product, as agreed upon in international trade negotiations. The "MFN" (Most Favored Nation) duty rate is the rate applied to all trading partners equally, ensuring fair trade practices. Therefore, 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 quantity unit for HS Code 29341020 is kilograms (KG). This means that the measurement and pricing of these compounds are based on their weight in kilograms. The quantity unit is essential for accurate trade transactions and helps in determining the value and volume of imports or exports.
HS Code 29341020 is eligible for various special tariff preference programs. These programs offer reduced or duty-free treatment for imports from specific countries or regions. The programs applicable to this HS code include:
The importing US states for HS Code 29341020 include Delaware and Puerto Rico. These states have been involved in importing these compounds for trade purposes. On the other hand, the exporting US state for HS Code 29341020 is Missouri. It is a significant exporter of these aromatic or modified aromatic heterocyclic compounds to various destinations.
HS Code 29341020 plays a crucial role in international trade, ensuring proper classification and regulation of aromatic or modified aromatic heterocyclic compounds. Understanding the details of this HS code, including its product description, duty rates, special tariff preference programs, and the states involved in import and export, is essential for businesses and traders operating in these industries.