HS Code 18062050 refers to a specific product description: Chocolate, weighing over 2kg, containing milk solids, not in blocks weighing 4.5kg or more, and without milk solids categorized as GN15. This article will explore various aspects of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The product description for HS code 18062050 is chocolate. It specifically refers to chocolate products that weigh over 2kg and contain milk solids. However, it excludes chocolate blocks weighing 4.5kg or more and chocolate without milk solids categorized as GN15.
When importing or exporting goods, it is essential to correctly identify the HS code to ensure accurate classification and compliance with trade regulations.
The bound / MFN (Most Favored Nation) duty rate for HS code 18062050 is 4.3%. The bound duty rate represents the maximum rate that a country can charge for importing goods. The MFN principle states that when a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This principle promotes fairness and equal treatment in international trade.
It is important for importers and exporters to be aware of the duty rates applicable to their goods to accurately calculate costs and determine the competitiveness of their products in the market.
The quantity unit for HS code 18062050 is kilograms (KG). This means that the weight of the chocolate products classified under this HS code is measured in kilograms.
Having a standardized quantity unit allows for consistent measurement and comparison of goods across different countries and trade transactions.
HS code 18062050 is eligible for various special tariff preference programs. These programs provide certain countries with preferential treatment or duty-free access to the US market for specific goods.
The special tariff preference programs applicable to HS code 18062050 include:
These special tariff preference programs aim to promote trade and strengthen economic relations between the United States and the countries involved.
HS code 18062050 has been imported and exported to and from the state of Vermont.
Importing and exporting goods contribute to the growth and development of local economies. Understanding the specific states involved in trade can help identify potential partners and opportunities for businesses.
HS code 18062050 represents a specific chocolate product that weighs over 2kg, contains milk solids, and has certain exclusions regarding chocolate block weight and milk solids categorization. Importers and exporters need to be aware of the duty rates, quantity unit, and special tariff preference programs associated with this HS code to ensure compliance and optimize their trade activities. The inclusion of Vermont as an importing and exporting state highlights the significance of trade at the local level.