In this educational article, we will delve into the details of HS Code 99120422, specifically focusing on MA goods in subheading 0402.21.50 or 0403.90.55 over Note 6 TRQ. We will explore the product description, bound/MFN duty rate, quantity unit, and special tariff preference programs associated with this HS code.
HS Code 99120422 refers to a specific category of goods falling under subheading 0402.21.50 or 0403.90.55. The subheading 0402.21.50 relates to milk and cream, concentrated or sweetened, while 0403.90.55 pertains to buttermilk, curdled milk, and cream, yogurt, kephir, and other fermented or acidified milk and cream.
The inclusion of the term "MA goods" suggests that these products are associated with the country of Morocco.
Every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This principle applies to HS Code 99120422 as well. The bound/MFN (Most Favored Nation) duty rate for these goods is determined based on international trade agreements and regulations.
The specific duty rate for HS Code 99120422 may vary depending on the country of import and export. It is essential for traders to consult the relevant customs authorities or trade agreements to determine the exact duty rate applicable in their specific situation.
Unfortunately, the data available does not specify the quantity unit for HS Code 99120422. However, it is important for importers and exporters to accurately determine the quantity of goods being traded to comply with customs regulations and calculate duties and taxes correctly.
Common quantity units for goods falling under subheading 0402.21.50 or 0403.90.55 include kilograms (kg), liters (L), or other appropriate units of measurement. Traders should refer to the relevant trade documentation or consult with customs authorities to determine the appropriate quantity unit for their specific situation.
HS Code 99120422 is eligible for a special tariff preference program with a rate of 80.1 cents per kilogram (kg) for goods imported from Morocco. This special rate is applicable under the Morocco Special Rate program.
Special tariff preference programs are trade agreements or arrangements between countries that aim to provide benefits, such as reduced duty rates or exemptions, to promote trade and economic cooperation. Importers and exporters should ensure that they meet the eligibility criteria and comply with the specific requirements of the applicable special tariff preference program.
It is important to note that special tariff preference programs may change over time due to renegotiations or updates in trade agreements. Traders should stay updated with the latest information from relevant trade authorities to take advantage of these programs effectively.
HS Code 99120422 encompasses MA goods in subheading 0402.21.50 or 0403.90.55 over Note 6 TRQ. It is crucial for importers and exporters dealing with these goods to have a comprehensive understanding of the product description, bound/MFN duty rate, quantity unit, and special tariff preference programs associated with this HS code.
By staying informed and complying with relevant customs regulations and trade agreements, traders can navigate international trade more effectively and take advantage of the opportunities presented by HS Code 99120422.