The HS Code 29362600 is used to classify a specific product in international trade. In this article, we will provide a comprehensive understanding of the HS Code 29362600, its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states associated with it.
The HS Code 29362600 corresponds to Vitamin B12 (Cyanocobalamin and related compounds with Vitamin B12 activity) and its derivatives, both natural or synthesized. This code is used to identify and classify this specific product for import and export purposes.
The bound or most favored nation (MFN) duty rate for products under the HS Code 29362600 is free. This means that every time a country lowers a trade barrier or opens up a market, it applies to the same goods or services from all its trading partners. This duty rate encourages fair trade practices and equal treatment for all countries participating in international trade.
The quantity unit for products classified under the HS Code 29362600 is kilograms (KG). This unit of measurement allows for accurate and standardized trade transactions, ensuring transparency and consistency in the global market.
Products under the HS Code 29362600 are eligible for various special tariff preference programs. These programs provide specific benefits and exemptions for importers and exporters, promoting economic growth and trade partnerships. The following special tariff preference programs apply to products under the HS Code 29362600:
These special tariff preference programs aim to support developing countries, foster international cooperation, and incentivize trade with specific regions and countries.
When it comes to the HS Code 29362600, the following US states are involved in importing and exporting this product:
These states play a vital role in the trade of products classified under the HS Code 29362600. They serve as key importers and exporters, contributing to the global distribution and availability of Vitamin B12 and its derivatives.
Overall, the HS Code 29362600 provides a standardized classification system for Vitamin B12 and its derivatives in international trade. Understanding the product description, duty rates, special tariff preference programs, and the involvement of specific US states in the import and export of this product is crucial for businesses and individuals engaged in global trade.