Glycosides, natural or synthesized, and their salts, ethers, esters, and other derivatives other than rutoside and its derivatives fall under the HS Code 29389000. This code is used to classify and track the import and export of these substances globally. In this article, we will delve into the details of this HS Code and explore its significance in international trade.
The HS Code 29389000 encompasses a wide range of glycosides and their derivatives. Glycosides are a class of organic compounds that consist of a sugar molecule bonded to another functional group, such as an aglycone. These compounds can be naturally occurring or synthesized in a laboratory. However, it is important to note that rutoside and its derivatives are excluded from this HS Code.
The bound / MFN (Most Favored Nation) duty rate for products falling under HS Code 29389000 is 3.7%. The MFN principle ensures that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate is applied uniformly to imports of glycosides and their derivatives from all countries.
The quantity unit specified for products classified under HS Code 29389000 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported glycosides and their derivatives. Importers and exporters must provide accurate information regarding the quantity of goods being traded to comply with customs regulations.
Several special tariff preference programs are applicable to glycosides and their derivatives falling under HS Code 29389000. These programs offer preferential treatment in terms of duty rates. Some of the notable programs include:
While the specific importing and exporting US states may vary, some states have been observed to engage in trade activities related to glycosides and their derivatives classified under HS Code 29389000. North Carolina and Nevada are known to import these products, indicating their demand in these states. On the other hand, Puerto Rico and Indiana have been identified as significant exporters of glycosides and their derivatives.
HS Code 29389000 plays a crucial role in classifying and tracking the import and export of glycosides, their salts, ethers, esters, and other derivatives. This code helps ensure uniformity and transparency in international trade and enables the application of appropriate duty rates and preferential treatment programs. Importers, exporters, and regulatory authorities must familiarize themselves with this HS Code to facilitate smooth trade operations.