The HS Code 20085040 refers to the classification of a specific product, which in this case is apricots that have been prepared or preserved in a way other than pulp. This code is used for international trade purposes to categorize products and determine tariff rates, among other things.
When importing apricots with this HS code, the bound or most favored nation (MFN) duty rate is 29.8%. The MFN duty rate means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for this product is kilograms (KG), which is the standard unit of measurement for most international trade transactions. This allows for consistent and accurate measurement of the quantity of apricots being imported or exported.
There are also special tariff preference programs available for apricots with this HS code. These programs offer preferential or reduced tariff rates for certain countries or regions. The specific programs and their corresponding tariff rates are as follows:
These special tariff preference programs provide various benefits for importers and exporters of apricots. They aim to promote economic development, foster trade relationships, and provide opportunities for countries and regions to benefit from international trade.
When importing apricots with HS Code 20085040, it is important to consider the specific requirements and regulations of both the importing and exporting US states. Each state may have its own rules and guidelines regarding the importation of agricultural products, including apricots. It is crucial to comply with these regulations to ensure smooth and legal trade transactions.
Overall, the HS Code 20085040 plays a crucial role in the international trade of apricots. It helps classify the product, determine tariff rates, and provides access to special tariff preference programs. Understanding and adhering to the requirements associated with this HS code is essential for importers and exporters to engage in successful and compliant trade transactions.