HS Code 99040486 refers to dairy products falling under Chapter 4 and additional United States Note 1, specifically classified under 0404.10.15. This code is used to identify and regulate the import and export of dairy products, ensuring fair trade practices and standardization across countries.
When it comes to international trade, it is essential to have a unified system that allows countries to classify goods and services accurately. The Harmonized System (HS) of product codes plays a crucial role in this regard. HS Code 99040486 specifically pertains to various dairy products and provides valuable information for importers, exporters, and customs officials.
The product description for HS Code 99040486 is "Dairy prod. in Ch. 4 addl US note 1, in 0404.10.15 entered in quantity safeguard period." This description provides important details about the classification and origin of the dairy products.
Dairy products falling under Chapter 4 of the Harmonized System are specifically covered by additional United States Note 1. This note may contain specific regulations, requirements, or trade policies related to dairy products. It is crucial for importers and exporters to familiarize themselves with the provisions mentioned in this note to comply with the necessary regulations.
Furthermore, the products falling under HS Code 99040486 are specifically entered in the quantity safeguard period. This period may indicate certain restrictions or limitations on the quantity of dairy products that can be imported or exported during a specific timeframe. Importers and exporters must be aware of these safeguard measures to ensure smooth and compliant trade operations.
The bound or Most Favored Nation (MFN) duty rate for HS Code 99040486 is 34.5 cents/kg plus 2.8%. The bound duty rate is the maximum rate of duty that a country can impose on imports. It provides importers with a clear understanding of the maximum duty they may have to pay on dairy products falling under this HS code.
Furthermore, the MFN duty rate ensures that every time 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 of non-discrimination ensures fair and equal treatment for all trading partners, promoting transparency and stability in international trade.
The quantity unit for HS Code 99040486 is kilograms (KG). This unit of measurement is used to determine the weight or quantity of dairy products being imported or exported. It helps in calculating duties, assessing trade statistics, and ensuring accurate documentation.
Special tariff preference programs may be available for dairy products falling under HS Code 99040486. These programs are designed to provide certain benefits, such as reduced or zero tariffs, to eligible importers or exporters. The availability of these programs may depend on factors such as the origin of the products, trade agreements, or specific government policies.
HS Code 99040486 applies to dairy products being imported and exported by various US states. The importing US states refer to those states within the United States that receive dairy products under this HS code. Similarly, the exporting US states are the states within the United States that export dairy products falling under HS Code 99040486.
It is important for importers and exporters to be aware of the specific rules, regulations, and requirements imposed by the importing and exporting US states. Compliance with these regulations ensures smooth customs clearance, reduces delays, and promotes efficient trade operations.
HS Code 99040486 plays a vital role in regulating the import and export of dairy products falling under Chapter 4 and additional United States Note 1, specifically classified under 0404.10.15. Understanding the product description, bound or MFN duty rate, quantity unit, special tariff preference programs, and the involvement of different US states is crucial for importers, exporters, and customs officials.
By adhering to the regulations and requirements associated with HS Code 99040486, stakeholders can ensure fair trade practices, promote standardization, and contribute to the growth of the dairy industry on a global scale.