The HS Code 38231940 refers to industrial monocarboxylic fatty acids or acid oils from refining that are not elsewhere specified or included. These fatty acids and acid oils are used in various industries for their versatile properties and applications.
Industrial monocarboxylic fatty acids are organic compounds with a single carboxylic acid functional group. They are derived from refining processes and can be obtained from various sources, including animal and vegetable fats. These acids are widely used in the production of soaps, detergents, cosmetics, lubricants, and plastics, among other products.
The specific HS code, 38231940, helps in identifying and classifying these industrial monocarboxylic fatty acids or acid oils from refining in international trade. It is essential for importers, exporters, and customs authorities to correctly identify and classify products using the HS code to ensure smooth trade operations and proper duty calculations.
The bound/MFN duty rate for HS Code 38231940 is 3.2%. 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. The duty rate helps in determining the applicable taxes or fees for importing or exporting these industrial monocarboxylic fatty acids or acid oils.
The quantity unit for HS Code 38231940 is kilograms (KG). This unit of measurement allows for accurate tracking and calculation of the quantity of the product being imported or exported.
Furthermore, there are special tariff preference programs associated with HS Code 38231940. These programs provide certain countries with preferential treatment or duty-free access to the US market. The countries eligible for these special tariff preferences include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and various beneficiary developing countries under the Africa Growth and Opportunity Act (AGOA) and Caribbean Basin Initiative (CBI).
When it comes to importing HS Code 38231940 into the United States, the following states are known to be major importers: Idaho, New Mexico, Oregon, Washington, District of Columbia, Kentucky, and Maryland. These states have a significant demand for industrial monocarboxylic fatty acids or acid oils from refining.
On the other hand, the major exporting states of HS Code 38231940 from the United States include Arizona, Maine, New Mexico, Oregon, Vermont, Washington, Maryland, California, Illinois, Indiana, Kentucky, Massachusetts, Montana, New Jersey, Puerto Rico, Tennessee, Utah, and Wisconsin. These states have the necessary infrastructure and capabilities to produce and export industrial monocarboxylic fatty acids or acid oils.
Overall, HS Code 38231940 plays a crucial role in the international trade of industrial monocarboxylic fatty acids or acid oils from refining. It helps in identifying, classifying, and regulating the import and export of these products, ensuring fair trade practices and appropriate duty rates. Understanding the HS code and its associated data is essential for businesses, customs authorities, and trade professionals involved in the global trade of industrial chemicals.