Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 17029035: Invert Molasses

Invert molasses falls under HS Code 17029035, which is used to classify and regulate the import and export of this particular product. In this article, we will explore and provide comprehensive information about this HS code, including its product description, quantity unit, bound and MFN duty rates, and any special tariff preference programs associated with it.

Product Description

Invert molasses is a type of syrup that is derived from the refining process of sugar. It is a byproduct of sugar production and has a distinct dark color and thick consistency. Invert molasses is commonly used in the food and beverage industry for its sweetening properties and unique flavor profile. It is also used in the production of various confectionery items, bakery products, and beverages.

HS Code: 17029035

The HS Code 17029035 is specifically assigned to invert molasses. HS codes are internationally recognized codes that classify and define products for import and export purposes. This code helps streamline trade processes and ensures consistency in customs declarations across different countries.

Bound / MFN Duty Rate

The bound duty rate for invert molasses under HS Code 17029035 is 0.35 cents per liter. The Most Favored Nation (MFN) duty rate refers to the rate applied to imports from countries with which a country does not have any preferential trade agreement. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.

Quantity Unit

The quantity unit for invert molasses is liters (L). This unit of measurement is used to determine the volume of the product being imported or exported. It helps in calculating the appropriate duties and taxes based on the quantity of invert molasses being traded.

Special Tariff Preference Programs

There are several special tariff preference programs associated with HS Code 17029035:

• Free: Certain countries are excluded from GSP eligibility for that HTS subheading, which means they receive duty-free treatment for invert molasses.
• Bahrain Special Rate: Bahrain has a special rate for invert molasses under HS Code 17029035.
• NAFTA for Canada: Under the North American Free Trade Agreement, Canada enjoys duty-free treatment for invert molasses.
• Chile Special Rate: Chile has a special rate for invert molasses.
• Caribbean Basin Initiative (CBI): Countries included in the Caribbean Basin Initiative receive duty-free treatment for invert molasses.
• Israel Special Rate: Israel enjoys duty-free treatment for invert molasses.
• Andean Trade Preference Act (ATPA): Countries covered under the Andean Trade Preference Act receive duty-free treatment for invert molasses.
• Jordan Special Rate: Jordan has a special rate for invert molasses.
• Morocco Special Rate: Morocco has a special rate for invert molasses.
• NAFTA for Mexico: Under the North American Free Trade Agreement, Mexico enjoys duty-free treatment for invert molasses.
• Oman Special Rate: Oman has a special rate for invert molasses.
• Dominican Republic-Central American Special Rate (DR-CAFTA): Countries covered under the Dominican Republic-Central American Free Trade Agreement receive duty-free treatment for invert molasses.
• Peru Special Rate: Peru has a special rate for invert molasses.
• Singapore Special Rate: Singapore has a special rate for invert molasses.
• Australia Special Rate: Australia has a special rate of 0.2 cents per liter for invert molasses.

These special tariff preference programs aim to promote trade and facilitate preferential treatment for invert molasses imported from specific countries.

HS Code 17029035 is used for the classification and regulation of invert molasses. It provides essential information about the product, including its description, quantity unit, bound and MFN duty rates, as well as any special tariff preference programs associated with it. Understanding these details is crucial for importers, exporters, and customs authorities to ensure compliance and facilitate smooth trade processes.