HS Code 29153970: Isobutyl acetate
Isobutyl acetate is a chemical compound that falls under the HS Code 29153970. This code is used to classify and identify specific products during international trade. It is essential for importers, exporters, and customs officials to understand the HS Code system to ensure smooth and accurate trade transactions.
Product Description:
Isobutyl acetate is a colorless liquid with a pleasant fruity odor. It is commonly used as a solvent in various industries, including coatings, paints, and adhesives. Isobutyl acetate is also used as a flavoring agent in food and beverages, providing a fruity taste.
Bound / MFN Duty Rate:
The bound or most favored nation (MFN) duty rate for Isobutyl acetate is 5.5%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This rate ensures fair and equal treatment for all countries involved in international trade.
Quantity Unit:
The quantity unit for Isobutyl acetate is kilograms (KG). This unit is commonly used to measure the weight or mass of goods during import and export transactions.
Special Tariff Preference Programs:
Isobutyl acetate enjoys special tariff preference programs in several countries. These programs provide certain benefits, such as duty-free treatment or reduced duty rates, to promote trade and economic cooperation. The following countries offer special tariff rates for Isobutyl acetate:
- Free: Isobutyl acetate is eligible for duty-free treatment under the Generalized System of Preferences (GSP) in countries like Australia, Bahrain, Canada (under NAFTA), Chile, European Union (EU), Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, and Panama.
- 0.90%: Singapore offers a special tariff rate of 0.90% for Isobutyl acetate.
These special tariff preference programs aim to facilitate trade and provide economic advantages for both importing and exporting countries. It is crucial for businesses to be aware of these programs to optimize their import/export strategies.
Importing US States and Exporting US States:
Isobutyl acetate is imported and exported to various US states. The specific states involved in the trade depend on the preferences and requirements of the importing and exporting parties. Some of the commonly involved US states in Isobutyl acetate trade include California, Texas, New York, Illinois, and Florida.
Isobutyl acetate is classified under the HS Code 29153970. Understanding the HS Code system is essential for international trade transactions. Isobutyl acetate enjoys special tariff preference programs in several countries, providing benefits such as duty-free treatment or reduced duty rates. Importers, exporters, and customs officials should be familiar with these programs to ensure compliance and optimize trade opportunities.
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