Fats and oils derived from milk, other than butter or dairy spreads, fall under HS Code 04059005. This specific HS code is used to classify and identify these products for international trade purposes. In this article, we will explore more about this HS code, its product description, duty rates, quantity units, and special tariff preference programs. We will also take a look at the importing and exporting US states for this particular product.
The product description for HS Code 04059005 is fats and oils derived from milk, excluding butter or dairy spreads. This means that any fats or oils that are obtained from milk, other than those specifically classified as butter or dairy spreads, will fall under this HS code. It is important to note that this product is subject to general note 15, which pertains to goods that are outside the quota.
The bound or most-favored-nation (MFN) duty rate for HS Code 04059005 is 10%. The MFN duty rate applies every time a country lowers a trade barrier or opens up a market. This means that any country that reduces trade barriers for this product must do so for all its trading partners. The 10% duty rate is applicable for imports of this product.
The quantity unit for HS Code 04059005 is kilograms (KG). This means that the measurement and trading of this product are done in kilograms. Importers and exporters need to adhere to this quantity unit when dealing with fats and oils derived from milk.
There are several special tariff preference programs associated with HS Code 04059005. These programs provide specific benefits and exemptions for imports of this product. The following programs offer preferential treatment:
The following US states are known to import fats and oils derived from milk under HS Code 04059005:
Based on the available data, the exporting US states for fats and oils derived from milk under HS Code 04059005 are:
HS Code 04059005 plays a significant role in the international trade of fats and oils derived from milk. Understanding the product description, duty rates, special tariff preference programs, and the involvement of different US states in the import and export of this product is crucial for businesses and individuals engaged in this trade.