The HS Code 99021137 refers to the product 1-Fluoro-2-nitrobenzene, which is classified under the CAS No. 1493-27-2. This product falls under the subheading 2904.90.30 in the Harmonized System (HS) of product classification.
When it comes to international trade, it is essential to have a proper understanding of HS codes. HS codes are used to classify products for customs and statistical purposes. They are standardized worldwide, enabling countries to have a uniform system for classifying traded goods. HS codes consist of a series of numbers and are organized in a hierarchical structure, starting from the broadest categories and going into more specific subcategories.
The HS Code 99021137 specifically identifies 1-Fluoro-2-nitrobenzene. This code helps customs authorities and traders to accurately identify and categorize the product during import and export processes. It also facilitates the collection of trade statistics, tariff determination, and monitoring of international trade flows.
1-Fluoro-2-nitrobenzene is a chemical compound with the molecular formula C6H4FNO2. It is classified as a nitro compound, characterized by the presence of a nitro group (-NO2) attached to a benzene ring. The compound is further modified by the addition of a fluorine atom (F) at the 1-position of the benzene ring.
1-Fluoro-2-nitrobenzene is primarily used as an intermediate in the synthesis of various organic compounds. It finds applications in the pharmaceutical, agrochemical, and chemical industries. The compound's unique chemical properties make it a valuable building block for the production of drugs, dyes, and other specialty chemicals.
The Bound / MFN (Most Favored Nation) duty rate is an important aspect of international trade. It refers to the tariff rate that a country applies to imported goods, regardless of the country of origin. The World Trade Organization (WTO) requires member countries to maintain MFN treatment, which means that any trade barrier reduction or market opening must be extended to all trading partners.
For products classified under HS Code 99021137, the Bound / MFN duty rate is set at "Free." This means that there are no import duties or tariffs imposed on the 1-Fluoro-2-nitrobenzene when it is imported into any country. The free duty rate promotes trade facilitation and encourages the importation of this specific product without imposing additional costs.
Unfortunately, the data provided does not specify the quantity unit for 1-Fluoro-2-nitrobenzene. The quantity unit is essential for accurately measuring and pricing the product during trade transactions. It could be in kilograms (kg), liters (L), metric tons (MT), or any other appropriate unit of measurement.
It is crucial for importers and exporters to have a clear understanding of the quantity unit to ensure accurate invoicing, pricing, and compliance with trade regulations. Further information regarding the quantity unit for HS Code 99021137 needs to be obtained from reliable sources or trade authorities.
Special tariff preference programs are initiatives introduced by countries to promote trade and economic cooperation. These programs provide preferential treatment, such as reduced or zero tariffs, to certain products or trading partners. They aim to foster regional integration, support developing countries, and enhance market access for specific industries.
For HS Code 99021137, there may be specific special tariff preference programs available depending on the importing and exporting countries. These programs could include Free Trade Agreements (FTAs), Preferential Trade Agreements (PTAs), Generalized System of Preferences (GSP), or other regional integration initiatives.
It is essential for traders and businesses to be aware of these special tariff preference programs to take advantage of the benefits they offer. They can significantly reduce the cost of importing or exporting the product and enhance competitiveness in the global market.
The HS Code 99021137 pertains to 1-Fluoro-2-nitrobenzene (CAS No. 1493-27-2) in the subheading 2904.90.30. This article provided a comprehensive overview of the product description, trade information, and special tariff preference programs associated with this HS code.
Understanding HS codes, product descriptions, and trade information is crucial for importers, exporters, and customs authorities to ensure smooth and efficient international trade. Compliance with tariff rates, accurate classification, and awareness of special tariff programs help businesses optimize trade opportunities and ensure legal compliance in the global marketplace.