The HS Code 29163111: Benzoic Acid and its Salts
Benzoic acid and its salts fall under the HS Code 29163111. This code is used to classify and identify specific goods during international trade. Understanding the HS Code is essential for importers, exporters, and customs authorities to ensure accurate and efficient trade transactions.
Product Description:
Benzoic acid and its salts are chemical compounds widely used in various industries. Benzoic acid is a white crystalline solid with a slight odor and is soluble in water. Its salts, such as sodium benzoate and potassium benzoate, are commonly used as food preservatives due to their antimicrobial properties.
Bound / MFN Duty Rate:
The bound or Most Favored Nation (MFN) duty rate for HS Code 29163111 is 6.5%. The MFN principle states that every time a country lowers a trade barrier or opens up a market, it must apply the same treatment to all its trading partners for the same goods or services. This duty rate applies to all countries unless specific tariff preference programs are in place.
Quantity Unit:
The quantity unit for HS Code 29163111 is kilograms (KG). This unit of measurement is used to determine the weight of the benzoic acid and its salts being imported or exported.
Special Tariff Preference Programs:
Several countries have special tariff preference programs in place for HS Code 29163111. These programs provide preferential treatment or duty-free access to certain countries. The following countries benefit from special tariff rates for benzoic acid and its salts:
- Australia (A)
- Bahrain (BH)
- Canada (CA) under NAFTA (North American Free Trade Agreement)
- Chile (CL)
- European Union (E)
- Israel (IL)
- Japan (J)
- Jordan (JO)
- Morocco (MA)
- Mexico (MX) under NAFTA
- Oman (OM)
- Peru (P)
- Singapore (SG)
These programs aim to promote trade and strengthen economic ties between the countries involved. Importers and exporters should take advantage of these programs to reduce costs and enhance competitiveness.
Importing and Exporting US States:
The importation and exportation of benzoic acid and its salts under HS Code 29163111 can occur between various states within the United States. The specific states involved in these transactions depend on the demand and supply chains within the country.
Summary:
HS Code 29163111 represents benzoic acid and its salts, which are widely used chemical compounds. The bound or MFN duty rate for this code is 6.5%. However, several countries benefit from special tariff preference programs, allowing for duty-free treatment or reduced tariffs. Importers and exporters should understand and utilize these programs to optimize trade opportunities. Additionally, the quantity unit for this HS Code is kilograms (KG). Overall, comprehending the HS Code system is crucial for efficient and compliant international trade.
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