When it comes to international trade, specific codes are used to classify different products for customs purposes. One such code is HS Code 29151310, which represents aromatic esters of formic acid. In this article, we will explore this HS code in detail, including its product description, duty rates, quantity unit, and special tariff preference programs.
HS Code 29151310 refers to aromatic esters of formic acid. These esters are organic compounds derived from the reaction between formic acid and aromatic alcohols. They are commonly used in various industries, including fragrance and flavor manufacturing, pharmaceuticals, and cosmetics. Aromatic esters of formic acid possess a pleasant aroma and are often added to enhance the scent of products.
For countries engaged in international trade, duty rates play a significant role in determining the cost of importing or exporting goods. The bound duty rate for HS Code 29151310 is 5.5%. It is essential to note that this duty rate remains the same every time a country lowers a trade barrier or opens up a market. This principle ensures that all trading partners receive equal treatment for the same goods or services.
The quantity unit for HS Code 29151310 is kilograms (KG). This unit of measurement is used to determine the weight of the aromatic esters of formic acid being imported or exported. It helps in accurately assessing the quantity of the product and calculating the associated costs.
Several special tariff preference programs are available for HS Code 29151310. These programs offer specific benefits, such as duty-free treatment or reduced duty rates, to eligible countries. Here are some of the special tariff preference programs applicable to this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing favorable conditions for specific products.
HS Code 29151310, representing aromatic esters of formic acid, is imported and exported by various US states. The specific states involved in the import and export of this product may vary depending on market demand, manufacturing capabilities, and other factors. Some of the US states commonly engaged in trading aromatic esters of formic acid include:
These states, along with others, contribute to the import and export activities related to HS Code 29151310, playing a vital role in international trade.
HS Code 29151310 represents aromatic esters of formic acid, which find applications in various industries. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for businesses engaged in international trade. By leveraging the benefits provided through special tariff preference programs, traders can enhance their competitiveness and foster economic growth.