If you are involved in international trade, you may have come across the term HS Code. HS Code stands for Harmonized System Code, and it is a standardized system used worldwide to classify and identify traded goods. In this article, we will explore the HS Code 99022567 and provide you with a detailed understanding of its product description, duty rates, and special tariff preference programs.
The HS Code 99022567 corresponds to the product Diethyl Ketone, which is identified by its CAS No. 96-22-0. Diethyl Ketone falls under the subheading 2914.19.00, as provided by the HS Code classification. Subheadings are specific categories within the HS Code system that further classify products based on their characteristics.
Diethyl Ketone is a colorless liquid with a fruity odor. It is primarily used as a solvent in various industries, including pharmaceuticals, paints, and coatings. Due to its volatile nature, it evaporates quickly and is commonly used in applications that require fast-drying properties.
The Bound / MFN (Most Favored Nation) duty rate for the HS Code 99022567 is 1.4%. The MFN duty rate is the rate applied to imports from all trading partners without any preferential treatment. It is a standard rate that countries impose on goods to generate revenue and protect domestic industries.
It is important to note that trade barriers and duty rates can change over time. 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 principle ensures fairness and equal treatment among trading nations.
The quantity unit for the HS Code 99022567 is not available (NA). This means that the specific unit of measurement for the product has not been specified in the provided data. It is crucial to determine the quantity unit when dealing with international trade to accurately calculate costs, logistics, and regulatory compliance.
Special tariff preference programs are agreements or arrangements between countries that provide preferential treatment to certain goods or services. These programs aim to promote economic cooperation, facilitate trade, and foster development between participating nations.
The HS Code 99022567 may be eligible for special tariff preference programs depending on the specific trade agreements between importing and exporting countries. These programs can include free trade agreements, regional trade agreements, or unilateral preferential schemes.
Importing and exporting US states play a significant role in determining the availability and benefits of special tariff preference programs. Different states may have their own additional regulations, incentives, or exceptions that affect the import or export of goods classified under the HS Code 99022567.
The HS Code 99022567 represents Diethyl Ketone, a versatile solvent used across various industries. Understanding the product description, duty rates, and special tariff preference programs associated with this HS Code is essential for businesses engaged in international trade. Staying updated with the latest trade regulations and taking advantage of favorable trade agreements can contribute to successful and cost-effective cross-border transactions.