Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 29151200: Salts of Formic Acid

The HS Code 29151200 refers to the classification of salts of formic acid in international trade. This code is used to identify and categorize the specific product for customs purposes. In this article, we will explore the details of this HS code, its product description, duty rates, quantity unit, and special tariff preference programs.

Product Description

The HS Code 29151200 represents salts of formic acid. Formic acid is a colorless and pungent-smelling liquid that occurs naturally in some insects and plants. Salts of formic acid are the result of the chemical reaction between formic acid and a base. These salts are commonly used in various industries, including agriculture, pharmaceuticals, and textile manufacturing.

Duty Rates

The bound or MFN (Most Favored Nation) duty rate for HS Code 29151200 is 5.5%. The MFN duty rate is the rate that applies to all trading partners when a country lowers a trade barrier or opens up a market. This means that regardless of the country of origin, the importers are required to pay a duty rate of 5.5% when importing salts of formic acid.

Quantity Unit

The quantity unit for HS Code 29151200 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported salts of formic acid. It is important for importers and exporters to accurately declare the quantity in kilograms to comply with customs regulations and calculate the applicable duty rates.

Special Tariff Preference Programs

Salts of formic acid classified under HS Code 29151200 are eligible for various special tariff preference programs. These programs provide certain countries with preferential treatment, including duty-free or reduced duty rates. The following countries enjoy special tariff preferences for this product:

• Australia (Free): Generalized System of Preferences (GSP) provides duty-free treatment for imports from Australia.
• Bahrain (Special Rate): Specific arrangements offer reduced duty rates for imports from Bahrain.
• Canada (NAFTA): North American Free Trade Agreement grants duty-free treatment for imports from Canada.
• Chile (Special Rate): Special arrangements allow for reduced duty rates for imports from Chile.
• Caribbean Basin Initiative (CBI): Provides duty-free treatment for imports from eligible countries in the Caribbean region.
• Israel (Special Rate): Specific arrangements offer reduced duty rates for imports from Israel.
• Andean Trade Preference Act (ATPA): Grants duty-free treatment for imports from eligible countries in the Andean region.
• Jordan (Special Rate): Specific arrangements offer reduced duty rates for imports from Jordan.
• Morocco (Special Rate): Specific arrangements offer reduced duty rates for imports from Morocco.
• Mexico (NAFTA): North American Free Trade Agreement grants duty-free treatment for imports from Mexico.
• Oman (Special Rate): Specific arrangements offer reduced duty rates for imports from Oman.
• Dominican Republic-Central American Special Rate (DR-CAFTA): Provides duty-free treatment for imports from eligible countries in the Dominican Republic-Central American region.
• Peru (Special Rate): Specific arrangements offer reduced duty rates for imports from Peru.
• Singapore (Special Rate): Specific arrangements offer reduced duty rates for imports from Singapore.

Importing and Exporting US States

The HS Code 29151200 is used for both importing and exporting salts of formic acid in the United States. This means that companies and individuals in any state within the US can import or export this product using the same HS code. Some of the major states involved in the import and export of salts of formic acid include California, Texas, New York, Florida, and Illinois.

the HS Code 29151200 classifies salts of formic acid in international trade. It provides a standardized identification system for customs purposes. Importers and exporters of this product need to be aware of the duty rates, quantity unit, and special tariff preference programs to ensure compliance with customs regulations and take advantage of any available benefits.