The HS Code 29161510 refers to a specific product category, namely Oleic, Linoleic, or Linolenic acids. These acids are commonly used in various industries, including food, pharmaceuticals, cosmetics, and industrial applications. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
Oleic, Linoleic, and Linolenic acids are fatty acids that are derived from various natural sources such as vegetable oils. These acids play a crucial role in human nutrition and are also used in the production of soaps, detergents, lubricants, and other industrial applications. They are known for their beneficial effects on health, including reducing cholesterol levels and promoting heart health.
The HS Code 29161510 specifically identifies Oleic, Linoleic, or Linolenic acids. This code is used internationally to classify and categorize goods for customs and trade purposes. It helps in standardizing the identification of products and ensures uniformity in trade regulations across different countries.
The bound / MFN (Most Favored Nation) duty rate for HS Code 29161510 is 6.5%. This means that when a country lowers a trade barrier or opens up a market, it has to apply the same duty rate of 6.5% for the import of Oleic, Linoleic, or Linolenic acids from all its trading partners. This duty rate is subject to change based on trade agreements and negotiations between countries.
The quantity unit for HS Code 29161510 is kilograms (KG). This means that the import and export of Oleic, Linoleic, or Linolenic acids are measured and recorded in kilograms. It is essential for accurate trade data and customs purposes.
HS Code 29161510 is eligible for various special tariff preference programs, which offer different duty-free treatments for importing countries. Some of these programs include:
These special tariff preference programs provide various benefits and incentives for importing countries, promoting trade and economic cooperation between nations.
HS Code 29161510 is relevant for both importing and exporting US states. The specific states involved in the import and export of Oleic, Linoleic, or Linolenic acids may vary depending on market demand, production capabilities, and international trade relationships.
HS Code 29161510 represents Oleic, Linoleic, or Linolenic acids, which are essential fatty acids used in various industries. Understanding the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs, is crucial for businesses and individuals involved in international trade.