Potassium nitrate, classified under HS Code 28342100, is a chemical compound that is commonly used in various industries. It is also known as saltpeter or nitrate of potash. This article will provide an extensive overview of the HS code 28342100, including its product description, duty rates, quantity unit, and special tariff preference programs.
Potassium nitrate, with the HS code 28342100, is a crystalline salt that is composed of potassium and nitrate ions. It is primarily used as a fertilizer, as it provides essential nutrients to plants. Additionally, it is used in the manufacturing of fireworks, gunpowder, and explosives due to its oxidizing properties. Potassium nitrate is also utilized in the food industry as a food preservative.
The bound or Most Favored Nation (MFN) duty rate for HS code 28342100 is free. This means that whenever 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 encourages fair trade and equal treatment for different countries in international commerce.
The quantity unit for HS code 28342100 is metric tons (T). This unit of measurement is commonly used in international trade to quantify the amount of goods being imported or exported.
HS code 28342100 enjoys special tariff preference programs in various countries. These programs provide specific benefits and exemptions for importing and exporting potassium nitrate. The following countries offer free trade preferences for this HS code:
These special tariff preference programs aim to promote trade between countries by reducing or eliminating import duties and taxes for specific goods.
Potassium nitrate, classified under HS code 28342100, can be imported into the United States by various states. One of the states that imports this product is Alaska. However, the article does not provide information regarding the exporting US states for potassium nitrate.
HS code 28342100 represents potassium nitrate, a versatile compound used in industries such as agriculture, pyrotechnics, and food preservation. It enjoys free duty rates, has a quantity unit of metric tons, and benefits from special tariff preference programs in multiple countries. Understanding the HS code and its associated details is crucial for importers, exporters, and businesses involved in international trade.