In international trade, each product is assigned a specific code known as the Harmonized System (HS) Code. These codes are used to classify and identify goods being imported or exported. One such HS code is 02022050, which corresponds to bovine meat cuts with bone in, that are not processed and are frozen.
The product description of HS code 02022050 is "Bovine meat cuts, with bone in, not processed, frozen, described in additional US note 3 to Chapter 2." This means that the meat comes from bovine animals, such as cows or oxen, and includes the bone. It is not processed in any way and is frozen for preservation.
The quantity unit for this product is kilograms (KG). This means that the weight of the meat cuts is measured in kilograms when imported or exported.
Now let's discuss the duty rates associated with HS code 02022050. The bound or Most Favored Nation (MFN) duty rate for this product is 4.4 cents per kilogram. The MFN duty rate refers to the rate applied to imports from all trading partners. It is the minimum rate that a country can apply to a product. 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.
There are also special tariff preference programs that offer duty-free treatment for imports of bovine meat cuts with bone in, under HS code 02022050. These programs include:
These special tariff preference programs allow certain countries to import bovine meat cuts with bone in, without having to pay any duties or tariffs.
When it comes to importing this product into the United States, the following states have been identified as importers:
On the other hand, the following states have been identified as exporters of bovine meat cuts with bone in:
These states play an important role in the trade of this particular product, as they either import or export it.
HS code 02022050 represents bovine meat cuts with bone in that are not processed and are frozen. The duty rates, special tariff preference programs, and the states involved in the import and export of this product provide valuable insights into the dynamics of international trade.