The HS Code 29400060 refers to a specific product category in international trade, namely "Other sugars, nesoi excluding d-arabinose." This code is used to classify and identify this particular product for customs and trade purposes. In this article, we will explore the details and implications of this HS code, including its description, duty rates, quantity units, and special tariff preference programs.
The product covered by HS Code 29400060 includes sugars that are not classified under any other specific category, excluding d-arabinose. It is important to note that this code refers to sugars that are not commonly used or recognized, which makes them subject to specific trade regulations and requirements.
The bound duty rate for products falling under HS Code 29400060 is 5.8%. The bound duty rate represents the maximum tariff rate that a country can impose on imported goods. However, it is crucial to understand that the actual duty rate may vary based on trade agreements and negotiations between countries.
In the context of MFN (Most Favored Nation) duty rates, 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. This principle ensures fair and equal treatment for all countries participating in international trade.
The quantity unit for products classified under HS Code 29400060 is kilograms (KG). This unit of measurement signifies that the product's weight is measured and calculated in kilograms, which is a widely accepted metric unit for trade purposes.
Products falling under HS Code 29400060 may be eligible for special tariff preference programs, which provide certain benefits and exemptions for importers. Some of the notable programs applicable to this HS code are as follows:
It is important for importers and exporters to be aware of these special tariff preference programs as they can significantly impact the overall cost and competitiveness of the traded goods.
HS Code 29400060 represents a specific product category in international trade, namely "Other sugars, nesoi excluding d-arabinose." This code is used for classification and identification purposes and is associated with a bound duty rate of 5.8%. The quantity unit for this code is kilograms (KG), and it may be eligible for various special tariff preference programs, providing benefits and exemptions for importers. Understanding and complying with the regulations and requirements associated with this HS code is essential for successful and compliant international trade.