When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in identifying and classifying various products. In this article, we will explore the HS Code 99040543, which specifically pertains to butter substitutes with a butterfat content of over 45%. Let's delve into the details of this HS Code and gain a comprehensive understanding of its implications.
The HS Code 99040543 refers to butter substitutes that contain more than 45% butterfat. These products fall under the broader category of butter substitutes and are further classified under specific subheadings, namely 0405.00.90, 2106.90.26, and 2106.90.36.
It is important to note that the HS Code 99040543 applies to butter substitutes that have been entered in a value safeguard period, with a price range of $1.60 to $1.799 per kilogram (KG).
The bound / MFN duty rate for the HS Code 99040543 is 8.9 cents per kilogram (KG). This rate is applicable every time a country reduces trade barriers or opens up its market. It ensures that the same goods or services from all trading partners receive equal treatment.
By setting a bound / MFN duty rate, countries strive to create a level playing field for international trade, promoting fairness and transparency.
The quantity unit for products classified under the HS Code 99040543 is kilograms (KG). This unit of measurement is widely used in international trade and provides a standardized method for calculating the quantity of goods being imported or exported.
Special tariff preference programs can significantly impact the import and export of products falling under the HS Code 99040543. These programs aim to promote trade between specific countries by offering preferential tariff rates or exemptions.
It is important for importers and exporters to stay updated on any special tariff preference programs that may be applicable to butter substitutes classified under the HS Code 99040543. By taking advantage of these programs, businesses can potentially reduce costs and gain a competitive edge in the global market.
The HS Code 99040543 is relevant to both importing and exporting US states. The importers located in different states of the United States may rely on this HS Code to accurately classify and declare their imported butter substitutes.
Similarly, exporters situated in various US states need to be aware of the HS Code 99040543 when exporting butter substitutes with a butterfat content exceeding 45%. Complying with the correct HS Code ensures smooth customs clearance and avoids any potential penalties or delays in international trade.
the HS Code 99040543 plays a vital role in the classification and trade of butter substitutes. Understanding the details and implications of this HS Code is essential for businesses engaged in the import and export of such products. By adhering to the correct HS Code and staying informed about applicable tariff programs, businesses can navigate the global market successfully and maximize their trade opportunities.