The HS Code 29011050 refers to a specific product description, namely saturated acyclic hydrocarbons that are not derived from petroleum, shale oil, natural gas, or specific hydrocarbons such as ethane, butane, n-pentane, or isopentane. In this article, we will delve into the details of this HS Code, exploring its characteristics, applications, and the countries involved in its import and export.
Saturated acyclic hydrocarbons are organic compounds consisting solely of carbon and hydrogen atoms, with each carbon atom bonded to four other atoms. The term "saturated" indicates that these hydrocarbons contain only single bonds between carbon atoms, making them chemically stable.
However, it is important to note that the HS Code 29011050 specifically excludes hydrocarbons derived from petroleum, shale oil, natural gas, or certain individual hydrocarbons like ethane, butane, n-pentane, and isopentane. This distinction ensures that the code is applicable to a specific subset of hydrocarbons.
According to the information provided, the bound or most-favored-nation (MFN) duty rate for HS Code 29011050 is free. This means that when a country reduces a trade barrier or opens its market, it must do so for all goods or services falling under this HS Code without discrimination among its trading partners.
Trade agreements and policies promote the elimination or reduction of trade barriers, fostering international trade and economic growth. The free duty rate encourages the import and export of saturated acyclic hydrocarbons, facilitating global commerce.
The quantity unit for HS Code 29011050 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of goods being imported or exported. It provides a standardized way to determine the quantity of saturated acyclic hydrocarbons involved in a trade transaction.
Several special tariff preference programs offer duty-free treatment for HS Code 29011050. These programs aim to promote trade and economic cooperation among participating countries. The countries currently enjoying tariff preferences for this HS Code include:
These special tariff preference programs provide significant benefits for traders involved in the import and export of saturated acyclic hydrocarbons, fostering international relationships and supporting economic growth.
Based on the data provided, the following US states are involved in the import and export of HS Code 29011050:
These states play a crucial role in the trade of saturated acyclic hydrocarbons, facilitating the flow of goods and contributing to the economic prosperity of the United States.
HS Code 29011050 encompasses saturated acyclic hydrocarbons that are not derived from petroleum, shale oil, natural gas, or specific hydrocarbons. The code enjoys free duty rates, and several special tariff preference programs provide duty-free treatment for this HS Code, promoting international trade and cooperation. Importing and exporting US states, including Montana, Utah, Wyoming, North Dakota, and Pennsylvania, actively participate in the trade of these hydrocarbons, contributing to the growth and development of their respective economies.