Milk and cream, condensed or evaporated, fall under the HS Code 99040512. 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, including its product description, duty rates, quantity unit, and special tariff preference programs.
The product description for HS Code 99040512 is "Milk and cream, condensed or evaporated." This means that the code is used to classify milk and cream products that have undergone the process of condensing or evaporating. These products are typically used in various culinary applications and food processing.
It's important to note that the specific subcategories of this product, falling under the HS Code 99040512, are identified as 0402.99.45 or 0402.99.55. These subcategories further classify the type and nature of the milk and cream products, providing more detailed information for trade purposes.
Additionally, the products falling under this HS code may be subject to a value safeguard period. This means that there may be certain restrictions or regulations in place regarding the import or export of these products during a specified period.
The value safeguard period for milk and cream products falling under HS Code 99040512 is within the price range of $0.50 to $0.599 per kilogram (kg). This indicates the cost per unit weight of the imported or exported products falling under this HS code.
The bound / MFN (Most Favored Nation) duty rate for milk and cream, condensed or evaporated, under HS Code 99040512 is 19.5 cents per kilogram (kg). The bound duty rate refers to the maximum tariff rate that a country can impose on the import of these products.
It's important to understand that the bound duty rate is applicable every time a country lowers a trade barrier or opens up a market. This means that if a country decides to reduce tariffs or eliminate trade barriers for milk and cream products, it must do so for all its trading partners equally. This principle ensures fair and non-discriminatory trade practices among countries.
The quantity unit for milk and cream, condensed or evaporated, falling under HS Code 99040512 is kilograms (kg). This unit of measurement is used to quantify the weight or quantity of the imported or exported products falling under this HS code.
Using kilograms as the quantity unit ensures a standardized measurement system for trade purposes, making it easier to calculate costs, tariffs, and shipping logistics.
Special tariff preference programs may be available for milk and cream, condensed or evaporated, falling under HS Code 99040512. These programs provide certain benefits or exemptions to eligible importers or exporters, aiming to promote trade and economic growth.
While the specific details of these programs may vary, they generally offer reduced duty rates, exemptions from certain trade barriers, or streamlined customs procedures for qualified participants.
As an international trade code, HS Code 99040512 applies to the import and export of milk and cream, condensed or evaporated, in various US states. The specific states involved in the import or export of these products may vary depending on market demand, production capabilities, and trade agreements.
It's important for importers and exporters to be aware of the regulations, documentation requirements, and any special considerations when conducting trade in milk and cream products falling under HS Code 99040512. This ensures compliance with trade laws and maximizes the efficiency of international transactions.
HS Code 99040512 is used to classify milk and cream, condensed or evaporated, for international trade purposes. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for importers, exporters, and trade professionals involved in the global dairy industry.