Harmonized System Codes • Schedule B • Harmonized Commodity Description

An Overview of HS Code 04029903: Condensed Milk, Sweetened, in Airtight Containers

HS Code 04029903 refers to condensed milk that is sweetened and packed in airtight containers. It falls under the General Note 15 of the Harmonized Tariff Schedule (HTS), which outlines specific regulations and requirements for this product. In this article, we will delve into the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs. We will also explore the importing and exporting US states for this particular product.

Product Description

Condensed milk is a popular dairy product that has been sweetened and concentrated by removing most of the water content. It is commonly used in various culinary applications, including baking, desserts, and beverages. HS Code 04029903 specifically refers to condensed milk that is packed in airtight containers, ensuring its freshness and longevity.

Bound / MFN Duty Rate

The bound or Most Favored Nation (MFN) duty rate for HS Code 04029903 is 3.9 cents per kilogram (kg). The MFN principle states that 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 ensures fair and equal treatment for all countries involved in international trade.

Quantity Unit

The quantity unit for HS Code 04029903 is kilograms (kg). This means that the measurement and pricing of this product are based on weight rather than volume or any other unit of measurement.

Special Tariff Preference Programs

HS Code 04029903 is eligible for various special tariff preference programs, offering favorable treatment and duty-free benefits for imports from specific countries. The following programs apply:

• Generalized System of Preferences (GSP): Only imports from least-developed beneficiary developing countries are eligible for GSP under this subheading, entitling them to duty-free treatment.
• Australia Special Rate: Australia enjoys a special rate for imports of condensed milk under this HS code.
• Bahrain Special Rate: Bahrain has a special rate for imports of condensed milk under this HS code.
• NAFTA for Canada: Condensed milk imported from Canada under the North American Free Trade Agreement (NAFTA) is eligible for duty-free treatment.
• Chile Special Rate: Condensed milk imported from Chile enjoys a special rate under this HS code.
• Africa Growth and Opportunity Act (AGOA): Imports from eligible African countries under AGOA receive duty-free treatment for condensed milk.
• Caribbean Basin Initiative (CBI): Countries in the Caribbean Basin Initiative enjoy duty-free treatment for condensed milk under this HS code.
• Israel Special Rate: Israel has a special rate for imports of condensed milk under this HS code.
• Andean Trade Preference Act (ATPA): Condensed milk imported from countries eligible under ATPA receives duty-free treatment.
• Jordan Special Rate: Jordan enjoys a special rate for imports of condensed milk under this HS code.
• Morocco Special Rate: Imports of condensed milk from Morocco receive a special rate under this HS code.
• NAFTA for Mexico: Condensed milk imported from Mexico under NAFTA is eligible for duty-free treatment.
• Oman Special Rate: Oman has a special rate for imports of condensed milk under this HS code.
• Dominican Republic-Central American Special Rate (DR-CAFTA): Condensed milk imported from countries under DR-CAFTA receives a special rate.
• Peru Special Rate: Condensed milk imported from Peru enjoys a special rate under this HS code.
• Singapore Special Rate: Singapore has a special rate for imports of condensed milk under this HS code.

Importing and Exporting US States

The following US states are involved in the import and export of condensed milk under HS Code 04029903:

• Importing US States: Idaho, New Mexico
• Exporting US States: Nevada

These states play a significant role in the trade of condensed milk, either as importers or exporters, contributing to the overall supply and demand dynamics of this product in the United States.

HS Code 04029903 covers sweetened condensed milk packed in airtight containers. It is subject to the regulations outlined in General Note 15 of the HTS. The bound / MFN duty rate for this product is 3.9 cents per kilogram. Various special tariff preference programs provide duty-free treatment for imports of condensed milk under specific conditions. Importing US states include Idaho and New Mexico, while Nevada is an exporting state. Understanding the details of HS Code 04029903 is essential for businesses involved in the trade of condensed milk and relevant stakeholders in the international dairy industry.