Yes, provided water is the principal medium — that is, the continuous phase in which the polymer is dissolved or dispersed. The presence of co-solvents (such as glycol ethers) to aid film formation does not move the product to 3208 as long as the aqueous phase predominates. If the solvent becomes the continuous phase, the product shifts to 3208.

Aqueous clear varnishes and sealers based on synthetic polymers fall under 3209 alongside pigmented paints, because the heading covers both pigmented and unpigmented film-forming preparations in an aqueous medium. The presence or absence of pigment does not change the heading; what matters is the polymer binder type and the aqueous carrier.