In this article, we will delve into the details of HS Code 99021247 and explore its significance in international trade. The HS Code, also known as the Harmonized System Code, is a standardized numerical code assigned to products for identification and classification purposes. By using HS Codes, countries can ensure uniformity in trade documentation and facilitate smooth international transactions.
The specific HS Code 99021247 is associated with a product described as follows: CAS No. 52829-07-9 (in subheading 2933.39.20). This code provides crucial information about the nature and composition of the product, allowing customs authorities and traders to identify and classify it accurately.
One important aspect of HS Codes is the Bound / MFN duty rate. The term "MFN" stands for Most Favored Nation, and it implies that 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 fairness and non-discrimination in international trade. The Bound duty rate refers to the maximum tariff rate that a country can impose on imported goods under its commitments to the World Trade Organization (WTO).
Unfortunately, the specific duty rate for HS Code 99021247 is not available (NA). However, it is essential to understand that duty rates can vary depending on factors such as country of origin, trade agreements, and specific tariff preference programs.
Speaking of tariff preference programs, they play a significant role in promoting trade between countries. These programs are designed to provide preferential treatment to certain products or countries, often by reducing or eliminating import duties. While the specific tariff preference programs applicable to HS Code 99021247 are not mentioned in the available data, it is worth mentioning some commonly known programs.
One such program is the Generalized System of Preferences (GSP), which allows eligible developing countries to export specified products to developed countries at reduced or zero tariffs. Another well-known program is the Free Trade Agreement (FTA), which establishes preferential trading terms between countries that have signed the agreement.
Now, let's briefly touch upon the importing and exporting US states related to HS Code 99021247. Unfortunately, the available data does not provide specific information about the states involved in the import or export of this product. However, it is essential to highlight that the United States is a significant player in international trade and has several states known for their import and export activities.
HS Code 99021247 is a vital identifier for a product with CAS No. 52829-07-9 (in subheading 2933.39.20). Understanding the implications of the Bound / MFN duty rate, as well as the various tariff preference programs, is crucial for businesses engaged in international trade. While specific details about the quantity unit and importing/exporting US states are not available, this article provides a comprehensive overview of HS Code 99021247 and its significance in the global trade landscape.