DR-CAFTA, which stands for Dominican Republic-Central America Free Trade Agreement, is a regional trade agreement between the United States and six Central American countries - Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic. The agreement aims to promote economic integration and facilitate trade between the member countries.
HS Code 99150487 refers to specific goods that fall under the DR-CAFTA agreement. These goods are categorized under the following subheadings: 0406.10.68, 0406.20.83, 0406.30.53, 0406.30.83, or 0406.90.92. It is important to note that these goods are subject to the limits set in Note 10(b) of the agreement.
Every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This principle, known as the Most Favored Nation (MFN) treatment, ensures non-discrimination in international trade. The bound or MFN duty rate for goods classified under HS Code 99150487 will be applicable in accordance with this principle.
The quantity unit for goods classified under HS Code 99150487 is not available (NA). This means that the specific unit of measurement for these goods is not specified. The absence of a quantity unit implies that the classification is based on other factors, such as product characteristics or trade considerations.
Goods classified under HS Code 99150487 are eligible for a special tariff preference program known as the Dominican Republic-Central American Plus Rate (DR-CAFTA Plus). Under this program, the applicable tariff rate is $1.386/kg. This preferential rate is designed to promote trade and provide economic benefits to the participating countries.
HS Code 99150487 applies to goods imported into and exported from the United States. The specific states involved in the import and export activities may vary depending on the nature of the goods and the trading partners. It is essential for businesses and traders to be aware of the regulations and requirements associated with importing and exporting goods classified under this HS code.
HS Code 99150487 pertains to DR-CAFTA member goods falling under specific subheadings. These goods are subject to the limits set in Note 10(b) of the agreement. Understanding the implications of this HS code is crucial for businesses engaged in international trade, particularly those involved in trade between the United States and the DR-CAFTA member countries.