Re: Duty or tariff on imported products
NANCY:
Are you talking Neoprene (polychloroprene rubber, an oil resistant synthetic rubber also known as polymerized chlorobutadiene or neoprene, currently classifiable under the Harmonized Tariff Schedule of the United States (HTSUS) as items 4002.42.00, 4002.49.00, 4003.00.00).
If so, it actually pays a tariff of 15%. However if the Tariff Reform Bill being discussed presently in the DR Congress is approved (probably next week) it will only pay 3% or 8%, depending on certain specifications.
If it is to be sold to a firm located in one of our 40+ Industrial freezones, for example a footwear manufacturer, it will pay 0%, no duty at all, but it has to go directly from the port to the freezone park.
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