The HS Code 15141900 refers to low erucic acid rapeseed or colza oil, which is a type of oil that is derived from the seeds of the rapeseed or colza plant. This oil is different from crude oil and its fractions, as it has undergone a refining process and is not chemically modified.
When it comes to international trade, countries often impose trade barriers or tariffs on imported goods. However, under the principle of Most Favored Nation (MFN), countries are required to lower trade barriers or open up their markets for the same goods or services from all their trading partners. In the case of HS Code 15141900, the bound or MFN duty rate is 6.4%, which is applicable every time a country reduces a trade barrier.
The quantity unit for HS Code 15141900 is kilograms (KG), which is the standard unit of measurement for this product.
There are also special tariff preference programs in place for HS Code 15141900. These programs allow for certain countries to import this product either duty-free or at a special rate. The countries eligible for these programs include Australia, Bahrain, Canada, Chile, Dominican Republic, Israel, Jordan, Mexico, Morocco, Oman, Peru, Singapore, and various African countries under the Africa Growth and Opportunity Act (AGOA) and the Caribbean Basin Initiative (CBI).
Importing and exporting of HS Code 15141900 can occur between different states within the United States. The specific states involved in the trade will depend on the location of the importers and exporters.
HS Code 15141900 represents low erucic acid rapeseed or colza oil, which is a refined oil derived from the rapeseed or colza plant. It is subject to a 6.4% duty rate under the principle of Most Favored Nation (MFN). There are also special tariff preference programs in place that allow for duty-free or special rate importation of this product. Importing and exporting of HS Code 15141900 can occur between different states within the United States.