When it comes to international trade, having a clear understanding of the Harmonized System (HS) codes is crucial. These codes are used to classify products for customs purposes, allowing for smooth and efficient trade across borders. In this article, we will explore the HS Code 99040516, which pertains to milk and cream, specifically condensed or evaporated variants, that fall under the subcategories 0402.99.45 or 0402.99.55.
Milk and cream, condensed or evaporated, are widely consumed dairy products that have a long shelf life due to the removal of water content. The HS Code 99040516 specifically applies to these products when entered in value safeguard period, with a price range of $0.90 to $0.999 per kilogram.
The bound / MFN (Most Favored Nation) duty rate for HS Code 99040516 is 4.3 cents per kilogram. It is important to note that this duty rate is applicable whenever a country lowers a trade barrier or opens up a market. In accordance with the principle of non-discrimination, countries must apply the same duty rate to all their trading partners for the same goods or services.
The quantity unit for HS Code 99040516 is kilograms (KG). This means that the weight of the imported milk and cream, condensed or evaporated, should be measured in kilograms for accurate customs declaration.
Special tariff preference programs are trade agreements or arrangements that provide certain advantages or exemptions to imported goods. These programs aim to promote economic cooperation and facilitate trade between participating countries. While specific programs may vary, it is important to explore whether any special tariff preference programs apply to HS Code 99040516.
As an importer or exporter of milk and cream, condensed or evaporated, it is useful to be aware of the states involved in these trade transactions within the United States. The following list provides an overview of the importing and exporting US states for HS Code 99040516:
Understanding HS Code 99040516 is essential for importers, exporters, and customs officials alike. By correctly classifying milk and cream, condensed or evaporated, under this HS Code, the import and export process can be streamlined, ensuring compliance with customs regulations and facilitating global trade.