When it comes to international trade, the Harmonized System (HS) code plays a vital role in identifying and categorizing different products. One such HS code is 01051200, which refers to live turkeys weighing not more than over 185 g each.
Under the HS code 01051200, the product description clearly states that it pertains to live turkeys with a specific weight limit. This code helps customs authorities and traders across the world in accurately classifying and tracking the import and export of these turkeys.
It is important to note that when 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, known as the Most Favored Nation (MFN) duty rate, ensures fair and equal treatment in international trade.
The MFN duty rate for HS code 01051200 is 0.9 cents each. This means that for every live turkey weighing not more than over 185 g each, a duty rate of 0.9 cents will be applied. It is crucial for importers and exporters dealing with live turkeys to be aware of this duty rate to accurately calculate the cost of their trade transactions.
The quantity unit for HS code 01051200 is measured in numbers (NO). This indicates that the quantity of live turkeys will be counted in individual units rather than weight or any other measurement.
Furthermore, there are special tariff preference programs applicable to imports under HS code 01051200. These programs provide certain countries with preferential treatment or exemption from duties. The following countries are eligible for special tariff preferences for live turkeys under this HS code:
These tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties on live turkeys. Importers and exporters from these eligible countries can benefit from lower costs and increased market access.
It is worth mentioning that the United States has different importing and exporting states for live turkeys under HS code 01051200. The specific states involved in the trade of these turkeys may vary, and it is essential for traders to be aware of the regulations and requirements specific to their states.
HS code 01051200 refers to live turkeys weighing not more than over 185 g each. This code is essential for classifying and tracking the import and export of these turkeys in international trade. Traders should be aware of the MFN duty rate, quantity unit, and any special tariff preference programs applicable to this HS code to ensure compliance and make informed trade decisions.