Fipronil, classified under HS Code 99022416, refers to a specific chemical compound with the CAS number 120068-37-3. It falls under the subheading 2933.19.23 as specified in international trade regulations. This article aims to provide an extensive understanding of Fipronil, its uses, and the trade implications associated with this HS code.
Fipronil is a widely used insecticide that belongs to the phenylpyrazole chemical family. Its chemical formula is C12H4Cl2F6N4OS, and it is primarily utilized for controlling various pests in agricultural, veterinary, and public health applications. Fipronil effectively targets insects such as ants, beetles, cockroaches, fleas, ticks, and termites.
As per the international trade classification, Fipronil is categorized under HS Code 99022416, which helps in identifying and regulating its import-export activities.
The bound or Most Favored Nation (MFN) duty rate for Fipronil is 5.2%. This duty rate is applicable whenever a country lowers a trade barrier or opens up its market. It ensures that the same tariff is imposed on similar goods or services from all trading partners of that country.
The 5.2% duty rate on Fipronil plays a crucial role in determining the cost of importing this chemical compound. Importers need to consider this duty rate when calculating the overall expenses associated with international trade transactions involving Fipronil.
Unfortunately, the specific quantity unit for Fipronil under HS Code 99022416 is not available (NA). Therefore, it becomes imperative for importers and exporters to consult additional documents or trade agreements to determine the appropriate measurement unit for their trade activities involving Fipronil.
Special tariff preference programs can greatly impact the trade of Fipronil under HS Code 99022416. These programs provide certain countries with reduced or zero tariff rates, aiming to promote economic development and cooperation.
Importing US states and exporting US states can participate in various special tariff preference programs to facilitate the trade of Fipronil. Some notable programs include the Generalized System of Preferences (GSP), Free Trade Agreements (FTAs), and Special Economic Zones (SEZs).
By taking advantage of these programs, importers and exporters can benefit from reduced duty rates or duty-free access to specific markets, ultimately enhancing the competitiveness and profitability of their Fipronil trade activities.
HS Code 99022416 plays a crucial role in regulating the trade of Fipronil, a widely used insecticide. Understanding the product description, bound / MFN duty rate, quantity unit, and special tariff preference programs associated with this HS code is essential for importers and exporters engaged in Fipronil trade activities.
By staying informed about the regulations and implications related to this HS code, businesses can navigate the international trade landscape more effectively, ensuring compliance and maximizing opportunities for growth and profitability.