Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 99040233: All You Need to Know About Beef Imports

Beef is a highly sought-after product in the global market, and its trade is regulated by various codes and tariffs. One such important code is the HS Code 99040233, which specifically refers to boneless beef imported under certain conditions. In this article, we will delve into the details of HS Code 99040233 and explore its significance in the international trade of beef.

Product Description

HS Code 99040233 covers boneless beef that falls under the categories 0201.30.80 and 0202.30.80. These specific categories refer to boneless beef cuts that are imported during a value safeguard period. The value safeguard period ensures that the imported beef falls within the price range of $1.30 to $1.499 per kilogram. This code helps customs authorities and traders to accurately identify and classify boneless beef shipments.

Bound / MFN Duty Rate

The bound or Most Favored Nation (MFN) duty rate for HS Code 99040233 is 8.1 cents per kilogram. The MFN principle states that whenever 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 ensures fair trade practices and equal treatment among countries.

Quantity Unit

The quantity unit for HS Code 99040233 is kilograms (KG). This unit of measurement is universally recognized and allows for accurate tracking and reporting of beef imports. It helps in calculating duties, determining trade volumes, and maintaining standardized records.

Special Tariff Preference Programs

In addition to the standard duty rate, there are various special tariff preference programs that may be applicable to beef imports under HS Code 99040233. These programs are designed to promote trade and foster economic cooperation between countries. Some of the common tariff preference programs include:

• Free Trade Agreements (FTA): Many countries have signed FTAs to facilitate trade and reduce or eliminate tariffs on specific goods. Beef imports under HS Code 99040233 may enjoy preferential duty rates if the exporting and importing countries have an FTA in place.
• Generalized System of Preferences (GSP): The GSP is a program that provides duty-free treatment to eligible products from developing countries. If the exporting country qualifies for GSP benefits, beef imports under HS Code 99040233 may be exempt from certain duties.
• Regional Trade Agreements (RTA): RTAs are agreements between two or more countries within a specific region. These agreements aim to promote regional integration and boost trade by reducing barriers. If the exporting and importing countries are part of an RTA, beef imports under HS Code 99040233 may receive preferential treatment.

Importing and Exporting US States

HS Code 99040233 applies to beef imports into the United States. While the importing US states may vary, the code is consistently used across all states to ensure uniformity in trade classification and customs procedures. On the other hand, the exporting US states refer to the regions or states within the United States that produce and export beef under HS Code 99040233.

It is important for traders, importers, and exporters to understand the regulations and requirements associated with HS Code 99040233. Adhering to the correct classification and tariff rates is crucial for smooth trade operations and compliance with international trade laws. By familiarizing themselves with the intricacies of this code, businesses can navigate the complex world of beef imports more effectively.