When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) Code is a globally recognized classification system that categorizes products based on their characteristics, composition, and intended use. HS Code 29374090 specifically refers to amino-acid derivatives of hormones and their derivatives, not elsewhere specified.
Amino acids are the building blocks of proteins and play a crucial role in various physiological processes. Hormones, on the other hand, are chemical messengers that regulate the functions of different organs and tissues in the body. When these two elements combine, they form amino-acid derivatives of hormones, which can have significant implications in the medical and pharmaceutical industries.
The HS Code 29374090 encompasses a wide range of amino-acid derivatives of hormones and their derivatives that are not classified under any other specific HS code. This code allows customs authorities and traders to easily identify and classify these products during import and export processes.
The bound or Most Favored Nation (MFN) duty rate is the maximum tariff rate that a country can impose on imported goods. It represents the commitment made by a country to its trading partners under the rules of the World Trade Organization (WTO). In the case of HS Code 29374090, the bound or MFN duty rate is currently set at zero.
This means that when importing amino-acid derivatives of hormones and their derivatives classified under HS Code 29374090, no additional tariffs or duties will be levied. This zero-duty rate encourages trade and facilitates the movement of these products across borders, promoting economic growth and cooperation among countries.
The quantity unit for HS Code 29374090 is grams (GM). This unit of measurement allows for precise quantification of the amino-acid derivatives of hormones and their derivatives being imported or exported. By using grams as the quantity unit, traders and customs authorities can accurately determine the volume and value of these products, ensuring transparency and fairness in trade transactions.
Special tariff preference programs are bilateral or multilateral agreements between countries that aim to promote trade by reducing or eliminating duties on specific goods. While specific information about special tariff preference programs for HS Code 29374090 is not provided, it is important to note that such programs can exist between countries involved in trade of amino-acid derivatives of hormones and their derivatives.
For example, North Carolina is listed as an importing US state for HS Code 29374090. This suggests that there may be specific trade agreements or preferences in place between North Carolina and exporting countries for these products. However, further research and information would be required to determine the exact details of any existing special tariff preference programs.
HS Code 29374090 encompasses amino-acid derivatives of hormones and their derivatives, not elsewhere specified. This code allows for the efficient classification and identification of these products during international trade. The bound or MFN duty rate for this HS code is currently set at zero, promoting the free movement of these goods across borders. The quantity unit for HS Code 29374090 is grams, ensuring accurate measurement and valuation of these products. While specific information about special tariff preference programs for this HS code is not provided, it is important to consider the potential existence of such programs between importing and exporting countries.