Sugar is an essential commodity that is widely used in various industries such as food and beverage, confectionery, and pharmaceuticals. The HS Code 17029090 specifically refers to sugars and sugar syrups, including articles containing sugar.
When importing or exporting products under this HS code, it is crucial to understand the associated regulations, duties, and special tariff preference programs. Let's delve into the details:
The product description for HS Code 17029090 encompasses sugars and sugar syrups, along with any articles that contain sugar. This code is used to classify these goods for international trade purposes.
The bound or Most Favored Nation (MFN) duty rate for HS Code 17029090 is 5.1%. The MFN principle states that whenever a country lowers a trade barrier or opens up a market, it must apply the same treatment to all its trading partners for the same goods or services.
The quantity unit for HS Code 17029090 is kilograms (KG). This unit is used to measure the weight of the imported or exported sugars and sugar syrups.
Under HS Code 17029090, there are several special tariff preference programs that may apply, providing reduced or duty-free rates for certain countries. The following programs are applicable:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing preferential treatment to specific trading partners.
HS Code 17029090 is applicable for importing and exporting sugars and sugar syrups to and from various US states. The specific states involved in these trade activities may vary depending on the market demand and supply.
Understanding the HS Code 17029090 and its associated regulations, duties, and special tariff preference programs is essential for businesses engaged in the import or export of sugars and sugar syrups. Adhering to these regulations ensures smooth trade operations and helps businesses make informed decisions regarding international trade.