When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying goods and products. In this article, we will explore HS Code 99040471, which specifically pertains to dairy products. Let's dive into the details of this HS Code and understand its implications for trade and commerce.
The HS Code 99040471 refers to dairy products falling under Chapter 4 of the Harmonized System, with additional notes from the United States. These products are specifically classified under subheadings 0404.90.50, 1901.90.43, 1901.90.47, and 2105.00.40. The import of these dairy products is subject to a value safeguard period, with the price range set between $0.90 and $1.099 per kilogram. This period ensures that the importation of these products does not disrupt the local market or affect domestic producers negatively.
The bound / Most Favored Nation (MFN) duty rate for HS Code 99040471 is set at 15.6 cents per kilogram. This duty rate is applicable whenever a country lowers a trade barrier or opens up its market. The principle behind the MFN duty rate is to ensure that any trade concessions or benefits granted by a country are extended to all its trading partners. This promotes fairness and equal treatment in international trade.
The quantity unit for HS Code 99040471 is kilograms (KG). This unit of measurement is used to determine the weight of the imported dairy products. It allows for accurate assessment of customs duties, taxes, and other trade-related charges based on the weight of the goods.
Various countries have established special tariff preference programs to promote trade and economic cooperation. These programs aim to provide preferential treatment to certain goods or trading partners, often offering reduced or exempted duties. While HS Code 99040471 does not specifically mention any special tariff preference programs, it is essential for importers and exporters to stay updated on such programs to take advantage of potential benefits or exemptions.
When it comes to HS Code 99040471, the importing and exporting US states play a significant role. The importing state refers to the state within the United States where the dairy products are being brought in from a foreign country. On the other hand, the exporting state refers to the state within the United States from where the dairy products are being sent to a foreign country. The specific states involved in importing and exporting may vary depending on the trade flows and market dynamics.
HS Code 99040471 covers dairy products falling under Chapter 4 of the Harmonized System. It provides a standardized classification for these products and determines the applicable duty rates, quantity units, and special tariff preference programs. Understanding this HS Code is crucial for importers, exporters, and policymakers involved in the dairy industry. Stay informed about the evolving trade regulations and market dynamics to make informed decisions and leverage potential trade opportunities.