When it comes to international trade, it is essential to have a standardized system to classify and identify products. The Harmonized System (HS) Code is an internationally recognized system used for this purpose. Each HS Code represents a specific product or group of products, enabling countries to track and regulate trade effectively.
One such HS Code is 29089935, which corresponds to the product 4-Nitro-m-cresol. This article will provide an extensive overview of this product, its characteristics, and its trade implications.
4-Nitro-m-cresol is a chemical compound primarily used in the manufacturing of various products, including dyes, pigments, and pharmaceuticals. It is a yellowish crystalline substance that is soluble in organic solvents and has a melting point of approximately 112-113 degrees Celsius.
This compound finds applications in industries such as textiles, paints, and cosmetics. In the textile industry, it is utilized as a dye intermediate, contributing to the vibrant colors of fabrics. In paints, it acts as a pigment, enhancing color intensity and durability. Additionally, it can be found in certain cosmetic products, such as hair dyes and nail polishes.
Understanding the duty rates associated with a specific HS Code is crucial for importers and exporters. For HS Code 29089935, the bound or Most Favored Nation (MFN) duty rate is set at 5.5%. This means that every time 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.
However, certain special tariff preference programs can provide exemptions or reductions in duty rates for this product. These programs include:
These special rates allow eligible countries to import 4-Nitro-m-cresol duty-free or at reduced duty rates, promoting trade relationships and providing economic benefits.
While the HS Code applies globally, it is also essential to consider the specific import and export data for the United States. Based on available information, the following US states have been involved in the import and export of 4-Nitro-m-cresol:
This data indicates that Arkansas is a significant player in the trade of 4-Nitro-m-cresol within the United States.
HS Code 29089935 represents the chemical compound 4-Nitro-m-cresol, which finds applications in various industries. Understanding the characteristics and trade regulations associated with this HS Code is essential for importers, exporters, and regulatory bodies. By adhering to the prescribed duty rates and leveraging special tariff preference programs, countries can facilitate international trade while ensuring fair competition and economic growth.