Aromatic lactones, classified under HS Code 29322945, are a type of organic compound that are widely used in various industries. These lactones have a distinct aromatic smell and are often used as flavoring agents in the food and beverage industry. They are also used in the production of perfumes, cosmetics, and pharmaceuticals.
The HS Code 29322945 specifically refers to lactones that are not elsewhere specified or included. This means it encompasses a wide range of aromatic lactones that may have different chemical compositions and properties. It is important to note that the HS Code is an internationally recognized system for classifying traded goods, and it is used by customs authorities to determine the appropriate duties and tariffs for imported and exported products.
The bound or MFN (Most Favored Nation) duty rate for HS Code 29322945 is 6.5%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate is applied to the value of the imported aromatic lactones and is subject to change based on trade agreements and negotiations.
The quantity unit for HS Code 29322945 is kilograms (KG). This is the standard unit of measurement used for determining the quantity of aromatic lactones imported or exported.
There are also special tariff preference programs that apply to imports of aromatic lactones under HS Code 29322945. These programs provide certain countries with preferential treatment, either by reducing or eliminating the duty rate. The following countries and programs offer special tariff preferences for aromatic lactones:
Under the "Free" program, imports from least-developed beneficiary developing countries eligible for GSP (Generalized System of Preferences) under that subheading receive duty-free treatment. This means that aromatic lactones imported from these countries are exempt from paying any duties.
Australia has a special rate for imports of aromatic lactones under HS Code 29322945, where they receive duty-free treatment. The same applies to imports from Bahrain, Canada under NAFTA (North American Free Trade Agreement), Chile, and countries eligible for the Africa Growth and Opportunity Act (AGOA) and the Caribbean Basin Initiative (CBI).
Israel and Jordan also have special rates that provide duty-free treatment for imports of aromatic lactones. Additionally, the Agreement on Trade in Pharmaceutical Products grants duty-free treatment for imports from countries involved in the agreement.
Other countries with special rates include Morocco, Mexico under NAFTA, Oman, the Dominican Republic, Central American countries under the DR-CAFTA (Dominican Republic-Central American Free Trade Agreement), and Peru with a 1% duty rate.
Singapore offers a special rate of 1% for imports of aromatic lactones under HS Code 29322945.
Importing US states and exporting US states may vary depending on the specific trade agreements and arrangements between countries. However, some of the major importing and exporting US states for aromatic lactones under HS Code 29322945 include California, Texas, New York, Florida, and Illinois.
HS Code 29322945 encompasses aromatic lactones, nesoi, which are versatile organic compounds used in various industries. The code is used for classifying and regulating the trade of these lactones, and it determines the applicable duty rates and tariff preferences. Understanding the HS Code and its associated data is crucial for importers, exporters, customs authorities, and trade professionals involved in the international trade of aromatic lactones.