HS Code 1516.20
Official Classification
Vegetable fats and oils and their fractions:
🤖 AI Analysis
HS Code 1516.20 pertains to vegetable fats and oils and their fractions, which includes products such as palm oil, soybean oil, and other similar plant-based oils. These oils are commonly used in various industries, including food production for cooking and baking, cosmetics for skin and hair products, and biofuels as an alternative energy source. The general duty rate for imports under this classification can vary, depending on the specific type of oil and its processing status, which can impact the overall cost for importers. It is crucial for businesses to verify the current duty rates with U.S. Customs and Border Protection to ensure compliance and accurate budgeting, as these rates can affect pricing strategies and profit margins.
Frequently Asked Questions
How much is the duty for HS Code 1516.20?
The standard general duty rate for importing goods under HS Code 1516.20 into the US is 0% based on the current Harmonized Tariff Schedule.
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