When it comes to international trade, the Harmonized System (HS) Code plays a vital role in identifying specific products. In this article, we will delve into the details of the HS Code 29242112, focusing on the product description, duty rates, quantity unit, and special tariff preference programs associated with it.
The HS Code 29242112 refers to the chemical compound known as 1-(2-Methylcyclohexyl)-3-phenylurea. This compound is commonly used in various industries such as pharmaceuticals, agriculture, and chemical research. It is primarily utilized as a precursor in the synthesis of other organic compounds.
1-(2-Methylcyclohexyl)-3-phenylurea is a white crystalline solid with a molecular formula C14H20N2O. It has a molecular weight of 232.32 grams per mole. Due to its versatile applications, this compound holds significant importance in the global market.
The bound / MFN (Most Favored Nation) duty rate for the HS Code 29242112 is free. This means that countries do not impose any tariffs or duties on the import or export of 1-(2-Methylcyclohexyl)-3-phenylurea. This allows for smooth trade facilitation and encourages global cooperation.
It is worth noting that the bound / MFN duty rate remains constant unless a country decides to lower a trade barrier or open up its market. In such cases, the same concessions must be extended to all trading partners for the same goods or services.
The HS Code 29242112 is measured in kilograms (KG). This quantity unit is widely adopted across the globe, ensuring standardized measurements and easy trading practices. Kilograms provide an efficient and universally understood measurement system for the import and export of 1-(2-Methylcyclohexyl)-3-phenylurea.
Special tariff preference programs often exist between countries to promote bilateral trade and economic cooperation. While specific programs may vary depending on the countries involved, the HS Code 29242112 may be eligible for certain preferential treatment under these programs.
For example, the United States has several trade preference programs, such as the Generalized System of Preferences (GSP) and Free Trade Agreements (FTA). These programs aim to reduce or eliminate tariffs on eligible products, including chemicals and pharmaceuticals.
It is important for importers and exporters to familiarize themselves with the applicable special tariff preference programs for the HS Code 29242112 in their respective countries. This can help them take advantage of cost-saving opportunities and enhance their competitiveness in the global market.
The HS Code 29242112 represents 1-(2-Methylcyclohexyl)-3-phenylurea, a chemical compound widely used in various industries. With a bound / MFN duty rate of free and a quantity unit of kilograms, this product enjoys smooth trade facilitation internationally.
Furthermore, importers and exporters should explore special tariff preference programs available in their respective countries to maximize benefits and foster economic growth. The HS Code 29242112 serves as a crucial identifier, ensuring seamless international trade and promoting global cooperation.