The HS Code 29339975 refers to a specific category of drugs known as aromatic or modified aromatic drugs of heterocyclic compounds with nitrogen hetero-atom(s) only. This code is used to classify and identify these drugs for trade and import/export purposes.
These drugs belong to the broader category of heterocyclic compounds, which are organic compounds that contain one or more rings with atoms of at least two different elements. In the case of HS Code 29339975, the compounds in question contain nitrogen hetero-atoms.
It is important to note that the HS Code 29339975 is used to specifically identify and classify aromatic or modified aromatic drugs within the broader category of heterocyclic compounds. This code helps customs and regulatory authorities to accurately categorize and monitor the trade of these drugs.
When importing or exporting goods classified under HS Code 29339975, it is essential to be aware of the associated duty rates. The bound or most-favored nation (MFN) duty rate for these drugs is 6.5%. This means that every time 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.
The quantity unit for goods classified under HS Code 29339975 is kilograms (KG). This unit is used to measure and quantify the weight of the drugs being imported or exported.
In addition to duty rates and quantity units, special tariff preference programs may apply to goods classified under HS Code 29339975. These programs provide specific advantages or exemptions for certain countries or regions. For example, imports from least-developed beneficiary developing countries are eligible for duty-free treatment under the Generalized System of Preferences (GSP) subheading. Other special tariff preference programs include the Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Africa Growth and Opportunity Act (AGOA), Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Agreement on Trade in Pharmaceutical Products, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), and Peru Special Rate. These programs aim to promote trade and economic development between countries.
When it comes to the specific states involved in importing and exporting goods classified under HS Code 29339975, the data shows that Delaware and Puerto Rico are the main importing states, while Missouri is the main exporting state. This information can be useful for businesses and traders looking to engage in the import or export of these drugs.
HS Code 29339975 is used to classify and identify aromatic or modified aromatic drugs of heterocyclic compounds with nitrogen hetero-atom(s) only. This code helps customs and regulatory authorities monitor the trade of these drugs and apply the appropriate duty rates and tariff preference programs. Importing states such as Delaware and Puerto Rico, along with exporting states like Missouri, play a significant role in the trade of goods classified under this HS code.