HS Code 29321200 - 2-Furaldehyde (Furfuraldehyde)
2-Furaldehyde, also known as Furfuraldehyde, is a chemical compound with the HS Code 29321200. In this article, we will explore the details of this HS code and its implications for trade and import-export activities.
Product Description
2-Furaldehyde, or Furfuraldehyde, is a chemical compound that is commonly used in various industries. It is a colorless liquid with a distinctive odor. This compound is primarily used in the production of resins, solvents, and pharmaceuticals. It is also used as a flavoring agent in food products.
Bound / MFN Duty Rate
The bound or Most Favored Nation (MFN) duty rate for HS Code 29321200 is free. This means that there are no import duties imposed on this product when it is traded between countries. The concept of MFN states that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This promotes fair and equal treatment in international trade.
Quantity Unit
The quantity unit for 2-Furaldehyde is kilograms (KG). This means that the product is measured and traded in kilograms.
Special Tariff Preference Programs
HS Code 29321200 is eligible for special tariff preference programs in several countries. These programs offer duty-free treatment for the import of this product. The countries that provide these special rates include:
- Australia (Generalized System of Preferences - GSP)
- Bahrain (Special Rate)
- Canada (NAFTA - duty-free treatment)
- Chile (Special Rate)
- Caribbean Basin Initiative (CBI)
- Israel (Special Rate - duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan (Special Rate)
- Morocco (Special Rate)
- Mexico (NAFTA - duty-free treatment)
- Oman (Special Rate)
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru (Special Rate)
- Singapore (Special Rate)
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties on specific products.
Importing and Exporting US States
HS Code 29321200 is imported and exported by various states in the United States. The following states are actively involved in the trade of 2-Furaldehyde:
These states play a crucial role in facilitating the import and export of 2-Furaldehyde within the United States.
HS Code 29321200 represents 2-Furaldehyde (Furfuraldehyde) and is used in various industries for the production of resins, solvents, and pharmaceuticals. It is traded internationally with a duty-free status under special tariff preference programs offered by several countries. The import and export of this product involve various states in the United States, primarily Alabama and Arkansas.
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