Milk and cream, condensed or evaporated, fall under HS Code 99040507. This code is used to classify and track the import and export of these products. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
HS Code 99040507 refers specifically to milk and cream that are condensed or evaporated. These products are further classified under subcategories 0402.91.70 or 0402.91.90. The products falling under this HS code are subject to a value safeguard period, with a price range of $0.40 to $0.499 per kilogram (KG).
Milk and cream, condensed or evaporated, are widely used in various culinary applications and food processing. They are often used as ingredients in desserts, baking, and the production of dairy-based products such as ice cream and yogurt.
The bound or most-favored-nation (MFN) duty rate for HS Code 99040507 is 4.2 cents per kilogram (KG). This duty rate is applicable whenever a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment.
The duty rate plays a crucial role in regulating the import and export of milk and cream, condensed or evaporated, under this HS code. It is important for traders and businesses to consider this duty rate while engaging in international trade transactions.
The quantity unit for HS Code 99040507 is kilograms (KG). This unit of measurement is used to determine the weight of milk and cream, condensed or evaporated, being imported or exported. It helps in accurately assessing the quantity and value of the products involved in trade transactions.
Traders, importers, and exporters must ensure that the quantity of milk and cream, condensed or evaporated, is properly measured and recorded in kilograms to comply with the regulations and requirements associated with this HS code.
HS Code 99040507 may also be eligible for various special tariff preference programs. These programs are designed to promote trade and provide certain benefits or concessions to specific countries or regions.
Importing US states and exporting US states play a significant role in determining the applicability of special tariff preference programs for milk and cream, condensed or evaporated, falling under this HS code. These programs can include free trade agreements, preferential trade schemes, or regional trade agreements.
It is essential for traders and businesses involved in the import and export of milk and cream, condensed or evaporated, to stay updated with the special tariff preference programs applicable to their specific trading partners and regions. This knowledge can help them take advantage of any cost savings or trade benefits provided by these programs.
HS Code 99040507 represents milk and cream, condensed or evaporated. This article provided an extensive overview of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs. Understanding these details is crucial for importers, exporters, and traders involved in the international trade of these dairy products.