The HS Code 29391920 refers to synthetic alkaloids of opium and their derivatives, including salts thereof, not elsewhere specified. These products are classified under this HS Code for the purpose of international trade. In this article, we will explore the details of this HS Code, including its product description, duty rates, quantity unit, and special tariff preference programs.
Synthetic alkaloids of opium and their derivatives, as covered by this HS Code, encompass a range of chemical compounds that are synthesized to mimic the effects of natural alkaloids found in opium. These synthetic compounds are used in various industries, including pharmaceuticals, research, and manufacturing. The salts of these alkaloids are also included in this HS Code.
The bound / MFN (Most Favored Nation) duty rate for products classified under HS Code 29391920 is free. This means that no import duties or taxes are imposed on these products when they are traded between countries. The principle behind the MFN duty rate is that every time 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 measuring products classified under HS Code 29391920 is kilograms (KG). This unit is used to determine the weight or quantity of the imported or exported goods. It is essential for accurate trade documentation and customs clearance procedures.
Products classified under HS Code 29391920 benefit from various special tariff preference programs, which provide favorable trade conditions and exemptions from import duties. The following special tariff preference programs apply to these products:
These special tariff preference programs aim to promote international trade and facilitate the flow of goods between participating countries by reducing or eliminating customs duties.
For the importation of products classified under HS Code 29391920 into the United States, the following states have been identified as major importers:
Regarding the exportation of these products from the United States, the following states have been identified as major exporters:
These states play a significant role in the trade of synthetic alkaloids of opium and their derivatives, contributing to both the import and export activities related to HS Code 29391920.
HS Code 29391920 encompasses synthetic alkaloids of opium and their derivatives, including salts thereof. These products are traded internationally and benefit from special tariff preference programs that provide duty-free treatment. Understanding the details of this HS Code is crucial for importers, exporters, and other stakeholders involved in the trade of these products.