International trade is an essential aspect of the global economy, promoting economic growth, development, and cooperation among nations. To facilitate smooth trade transactions, a standardized system known as the Harmonized System (HS) Code is used to classify products. Each HS Code represents a specific product or commodity, allowing countries to regulate and monitor imports and exports effectively.
In this article, we will explore the HS Code 99021206, which corresponds to IPN (Isophthalonitrile), a chemical compound widely used in various industries. IPN, with the Chemical Abstracts Service (CAS) number 626-17-5, falls under the broader category of heading 2926.90.48 in the HS Code.
Isophthalonitrile (IPN) is a key component in the production of polymers, fibers, and resins. It is a colorless crystalline substance with a molecular formula of C8H4N2. IPN is primarily used in the manufacturing of high-performance engineering plastics, such as polyimides, which possess excellent thermal and mechanical properties.
The HS Code 99021206 precisely identifies IPN and assists customs authorities in classifying, documenting, and tracking its international trade. By using this globally recognized code, importers and exporters can ensure compliance with regulations and facilitate efficient customs clearance processes.
When it comes to international trade, countries often impose tariffs or duties on imported goods to protect domestic industries, generate revenue, and regulate trade flows. The Bound / Most-Favored-Nation (MFN) duty rate refers to the maximum tariff rate a country can impose on a specific product. In the case of HS Code 99021206, the Bound / MFN duty rate is 3.4%.
It is important to note that trade barriers and tariffs can vary among countries, reflecting their economic policies and trade agreements. Additionally, countries may negotiate preferential tariff rates through free trade agreements, regional trade blocs, or special tariff preference programs.
The quantity unit for HS Code 99021206 is not available (NA). This means that the specific unit of measurement for IPN imports or exports under this HS Code is not specified. Importers and exporters should refer to other accompanying documents, such as commercial invoices and packing lists, to determine the quantity and unit of measurement for their specific trade transactions.
In international trade, countries often establish special tariff preference programs to promote economic cooperation and provide trade benefits to specific partners. These programs aim to reduce or eliminate tariffs, thereby enhancing market access and facilitating trade flows between participating countries.
While the specific special tariff preference programs applicable to HS Code 99021206 may vary depending on the importing and exporting countries, it is crucial for traders to be aware of any preferential trade agreements or regional trade blocs that may offer reduced tariff rates or other trade benefits for IPN imports or exports.
The United States, being a major player in international trade, engages in import and export activities with various states and regions worldwide. When it comes to HS Code 99021206, the importing and exporting US states may vary depending on market demand, industrial requirements, and supply chains.
Some of the prominent US states known for their involvement in IPN trade include California, Texas, New York, Illinois, and Ohio. These states often serve as key hubs for chemical manufacturing, research, and development, attracting both domestic and international trade partners.
By understanding the importing and exporting US states, businesses can identify potential trade partners, establish supply chains, and explore market opportunities for IPN and related products.
the HS Code 99021206 plays a vital role in the international trade of IPN (Isophthalonitrile). By accurately classifying and identifying this chemical compound, the HS Code enables countries to regulate trade, apply appropriate tariffs, and monitor trade flows effectively. Importers, exporters, and businesses involved in IPN trade should be aware of the Bound / MFN duty rate, quantity unit specifications, and any special tariff preference programs in order to optimize their trade transactions and foster economic growth.