When it comes to international trade, there are numerous codes and regulations in place to ensure smooth and fair transactions. One such code is the HS Code, which stands for Harmonized System Code. In this article, we will delve into the details of HS Code 38061000, which pertains to rosin and resin acids. We will explore the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code.
HS Code 38061000 specifically refers to rosin and resin acids. Rosin is a natural solid substance obtained from the resin of pine trees. It is commonly used in the production of varnishes, adhesives, and inks. Resin acids, on the other hand, are a group of organic compounds that are derived from rosin. They have various applications in industries such as paper, rubber, and coatings.
Under HS Code 38061000, the bound or most-favored-nation (MFN) duty rate is set at 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 5% duty rate is applicable to the importation of rosin and resin acids across all participating countries.
The quantity unit for HS Code 38061000 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of goods being imported or exported. When dealing with rosin and resin acids, the weight is determined in kilograms to ensure accurate documentation and pricing.
HS Code 38061000 is eligible for several special tariff preference programs, offering various benefits to importing and exporting countries. Here is a list of the programs and the countries that are a part of them:
These special tariff preference programs aim to promote trade and economic growth by reducing or eliminating duties on rosin and resin acids, thus making them more accessible and affordable for businesses.
HS Code 38061000 applies to import and export transactions involving rosin and resin acids in the United States. As for specific states, any state within the US can import or export these goods under this HS code. Some notable states that engage in significant trade of rosin and resin acids include California, Texas, Florida, New York, and Georgia.
HS Code 38061000 plays a crucial role in the international trade of rosin and resin acids. It provides a standardized classification system, duty rates, and special tariff preference programs to facilitate smooth and fair transactions. By understanding the details of this HS code, businesses can navigate the complexities of global trade and leverage the benefits offered by various countries and trade agreements.