Lysergic acid and its salts fall under the HS Code 29396300. This code is used to classify and identify this specific product in international trade. It is important for businesses and governments to properly classify goods using HS codes to ensure accurate documentation and efficient customs procedures.
The product description for HS Code 29396300 is Lysergic acid and its salts. Lysergic acid is a naturally occurring compound found in certain types of fungi and plants, including the ergot fungus. It is known for its psychoactive properties and is used in the production of various drugs, including LSD.
When it comes to trade, countries may impose different duty rates on imported goods. However, the bound or most-favored-nation (MFN) duty rate for HS Code 29396300 is free. This means that no duties or tariffs are levied on the import of Lysergic acid and its salts.
In addition to the MFN duty rate, there are also special tariff preference programs that offer duty-free treatment for Lysergic acid and its salts. These programs include:
Now, let's take a look at the importing and exporting states for HS Code 29396300:
Importing US states:
Exporting US states:
These states are involved in the import and export of Lysergic acid and its salts, contributing to the global trade of this product.
HS Code 29396300 represents Lysergic acid and its salts in international trade. This code is important for accurate classification, documentation, and customs procedures. Lysergic acid and its salts enjoy duty-free treatment under the MFN duty rate and various special tariff preference programs, making it easier for businesses to engage in global trade. Understanding the importing and exporting states also provides insights into the flow of this product in the United States.