When it comes to international trade, it is crucial to have a standardized system for identifying and classifying goods. The Harmonized System (HS) Code is an internationally recognized system that assigns a unique code to each product, making it easier to track and regulate trade. In this article, we will dive into the details of HS Code 29163120, which refers to odoriferous or flavoring compounds of benzoic acid esters.
Product Description: Odoriferous or flavoring compounds of benzoic acid esters are chemicals used in various industries, including food and beverage, fragrance and perfumery, and pharmaceuticals. These compounds are derived from benzoic acid, a naturally occurring compound found in many fruits, such as cranberries, plums, and cherries. They are known for their pleasant aroma and flavor-enhancing properties.
Bound / MFN Duty Rate: The bound / most-favored-nation (MFN) duty rate for HS Code 29163120 is 6.5%. This means that every time a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for the import of odoriferous or flavoring compounds of benzoic acid esters from all its trading partners.
Quantity Unit: The quantity unit for HS Code 29163120 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the amount of goods being imported or exported.
Special Tariff Preference Programs: Several countries and regions offer special tariff preference programs for imports of odoriferous or flavoring compounds of benzoic acid esters under HS Code 29163120. These programs provide reduced or duty-free treatment to promote trade and economic cooperation. The following are some of the special tariff preference programs applicable to this HS Code:
Importing US States: HS Code 29163120 allows the import of odoriferous or flavoring compounds of benzoic acid esters into all states of the United States.
Exporting US States: HS Code 29163120 enables the export of odoriferous or flavoring compounds of benzoic acid esters from all states of the United States.
HS Code 29163120 pertains to odoriferous or flavoring compounds of benzoic acid esters. This code is essential for tracking and regulating international trade of these compounds. With a detailed product description, information on duty rates, quantity units, and special tariff preference programs, importers and exporters can navigate the global market efficiently and benefit from the opportunities offered by this HS Code.