Artificial waxes and prepared waxes fall under HS Code 34049051. This code is used to classify and regulate the import and export of these products. Understanding the HS code system is essential for international trade as it provides a standardized way to identify and classify goods.
Artificial waxes and prepared waxes are substances that have similar properties to natural waxes but are chemically synthesized. They are commonly used in various industries, including cosmetics, pharmaceuticals, food packaging, and automotive. These waxes offer a range of benefits such as lubrication, water resistance, and protection against oxidation.
When importing or exporting artificial waxes and prepared waxes, it is important to be aware of the duty rates associated with the HS code 34049051. The bound or Most Favored Nation (MFN) duty rate for this code is free. This means that countries must lower trade barriers or open up their markets for the same goods or services from all trading partners.
The quantity unit for artificial waxes and prepared waxes is kilograms (KG). This unit is used to measure the weight of the products being imported or exported.
In addition to the duty rates, there are special tariff preference programs that apply to HS code 34049051. These programs offer preferential treatment or exemptions from duty for specific countries. The following countries are eligible for special tariff preferences under this HS code:
These special tariff preference programs provide opportunities for eligible countries to trade artificial waxes and prepared waxes with the United States at reduced or exempted duty rates, promoting economic growth and cooperation.
When it comes to specific importing and exporting states in the US, the data shows the following:
Importing US states:
Exporting US states:
It is worth noting that this data indicates a significant trade activity involving artificial waxes and prepared waxes in West Virginia, Ohio, and Delaware. Understanding the import and export patterns can help businesses identify potential trade partners and market opportunities.
HS code 34049051 is used to classify artificial waxes and prepared waxes in international trade. This code ensures standardized classification, regulation, and duty rates for these products. The special tariff preference programs further facilitate trade by providing preferential treatment for eligible countries. By understanding the HS code system and the associated data, businesses can navigate the import-export process more effectively and explore opportunities in the artificial wax industry.