Glyoxylic acid, classified under HS Code 99021101, is a chemical compound with the CAS number 298-12-4. It falls under subheading 2918.30.90 in the Harmonized System (HS) classification. This article will provide an extensive overview of Glyoxylic acid, its uses, and the relevant information related to its HS code.
Glyoxylic acid is an organic compound with the chemical formula C2H2O3. It is a colorless liquid that is highly reactive due to the presence of a reactive aldehyde group. Glyoxylic acid is primarily used as a chemical intermediate in various industries, including pharmaceuticals, agrochemicals, and cosmetics.
The CAS number 298-12-4 refers to the unique identification number assigned to Glyoxylic acid by the Chemical Abstracts Service (CAS). This number is used worldwide for the identification and reference of chemical substances.
The HS code 99021101 classifies Glyoxylic acid under subheading 2918.30.90 in the Harmonized System. The HS code is an international standard for the classification of traded products. It helps in the uniform categorization of goods for customs purposes and facilitates international trade.
The bound / MFN (Most Favored Nation) duty rate for Glyoxylic acid is 1.6%. The MFN duty rate is the rate applied to imports from all trading partners of a country. It ensures that when 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 duty rate applies to Glyoxylic acid regardless of the country of origin or destination. It helps in promoting fair and equal trade among countries by minimizing discriminatory practices.
Unfortunately, the quantity unit for Glyoxylic acid is not available (NA). The absence of a specific quantity unit indicates that the measurement of this product may vary depending on the specific requirements of the importing or exporting parties.
It is important for traders and customs authorities to establish a mutually agreed-upon quantity unit to ensure accurate measurement and valuation of Glyoxylic acid during international trade transactions.
Glyoxylic acid may be eligible for special tariff preference programs that provide certain benefits to importers or exporters. These programs aim to promote trade, economic development, and cooperation between countries.
Importing US states and exporting US states may have specific programs in place that offer reduced or zero-duty rates for Glyoxylic acid. These programs are designed to support domestic industries, foster international relations, and stimulate economic growth.
Traders should consult the specific tariff preference programs applicable to their country and consider utilizing them to gain a competitive advantage in the international market.
Glyoxylic acid (HS Code 99021101) is a versatile chemical compound used in various industries. Its HS code, 99021101, is a standardized classification that helps in the efficient categorization and customs clearance of the product during international trade.
The bound / MFN duty rate of 1.6% ensures fair trade practices, and although the quantity unit is not available, it is essential to establish a compatible unit for accurate measurement. Additionally, special tariff preference programs may offer benefits to importers and exporters of Glyoxylic acid.
Understanding the details and implications of the HS code and related information is crucial for traders, customs authorities, and stakeholders involved in the import and export of Glyoxylic acid.