Milk and cream, condensed or evaporated, falls under HS Code 99040504. This code is used to classify and identify specific products for international trade purposes. In this article, we will explore the details of this HS code and the products it encompasses.
The product description for HS Code 99040504 states that it includes milk and cream, condensed or evaporated. These products are further classified under subheadings 0402.91.70 or 0402.91.90. This means that any milk and cream falling under these subheadings and entered during the value safeguard period will be categorized under this HS code.
During the value safeguard period, the specified milk and cream products will have a value range of $0.20 to $0.249 per kilogram. This information is crucial for importers and exporters to understand the pricing and cost factors associated with these products.
As for the duty rate, it is important to note that for HS Code 99040504, the bound or most-favored-nation (MFN) duty rate is set at 16 cents per kilogram. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate for the same goods or services from all its trading partners. This ensures fairness and equal treatment among trading nations.
The quantity unit for HS Code 99040504 is kilograms (KG). This means that the measurement and trade of the specified milk and cream products are based on weight, specifically in kilograms. Importers and exporters need to be aware of this unit to accurately calculate quantities and pricing.
In addition to these details, there are also special tariff preference programs available for the import and export of milk and cream, condensed or evaporated. These programs offer certain advantages and benefits to eligible traders, such as reduced duty rates or exemptions. Importers and exporters should explore these programs to optimize their trade activities and minimize costs.
When it comes to importing milk and cream, condensed or evaporated into the United States, specific rules and regulations apply. Different states may have varying requirements and restrictions. It is essential for importers to be familiar with the regulations of the state they are importing into to ensure smooth customs clearance and compliance with local laws.
Similarly, when exporting milk and cream, condensed or evaporated from the United States, it is crucial to consider the regulations and requirements of the destination country. Each country may have its own import restrictions, labeling requirements, and quality standards. Exporters should thoroughly research and comply with these regulations to avoid any issues or delays in the export process.
HS Code 99040504 pertains to milk and cream, condensed or evaporated. This code classifies and identifies these products for international trade purposes. Understanding the details of this HS code, such as the product description, duty rate, quantity unit, and special tariff preference programs, is essential for importers and exporters to engage in smooth and compliant trade activities. It is crucial to stay updated with the regulations and requirements of both importing and exporting countries to ensure successful trade transactions.