HS Code 04029910: A Comprehensive Guide to Condensed Milk
Condensed milk is a popular dairy product known for its rich and creamy taste. It is made by removing most of the water content from regular milk and adding sugar. This article will provide you with an extensive overview of condensed milk and its HS Code 04029910.
HS Code 04029910 specifically refers to sweetened condensed milk packed in airtight containers. This code helps in identifying and classifying the product for international trade purposes. It is crucial for importers, exporters, and customs authorities to accurately use the HS Code to facilitate smooth trade transactions.
The US note 11 to Chapter 4 states that this type of condensed milk is subject to additional regulations. This means that there might be specific requirements or restrictions imposed when importing or exporting this product. It is essential to stay updated with the latest trade policies and regulations to ensure compliance.
The quantity unit for HS Code 04029910 is kilograms (KG). This unit helps in determining the weight of the product for trade and transportation purposes. Importers and exporters need to accurately declare the weight of the product to calculate duties, freight charges, and ensure proper logistics management.
When it comes to duty rates, HS Code 04029910 has a bound or most-favored nation (MFN) duty rate of 3.9 cents/kg. The MFN duty rate applies to all trading partners and ensures that the same rate is applied when countries lower trade barriers or open up their markets. This principle promotes fair and equal treatment for all trading partners.
However, there are special tariff preference programs available for HS Code 04029910. These programs provide certain countries with preferential treatment, reducing or eliminating the duty rates. The countries included in these programs are:
- A+ (Least Developed Beneficiary Developing Countries eligible for Generalized System of Preferences, duty-free treatment)
- Australia (Special Rate)
- Bahrain (Special Rate)
- Canada (NAFTA, duty-free treatment)
- Chile (Special Rate)
- Africa Growth and Opportunity Act (AGOA, duty-free treatment)
- Caribbean Basin Initiative (CBI)
- Israel (Special Rate, duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan (Special Rate)
- Morocco (Special Rate)
- Oman (Special Rate)
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru (Special Rate)
- Singapore (Special Rate)
These special tariff preference programs aim to promote trade and economic development by providing incentives to specific countries. Importers and exporters can take advantage of these programs to reduce their costs and enhance their competitiveness in the market.
Now, let's take a closer look at the importing and exporting US states for HS Code 04029910. The following states are involved in the trade of condensed milk:
Importing US states:
- Idaho
- New Mexico
Exporting US states:
- Nevada
These states play a significant role in the import and export of condensed milk. Importers in Idaho and New Mexico might have a higher demand for this product, while exporters in Nevada are actively supplying condensed milk to meet the market needs.
HS Code 04029910 refers to sweetened condensed milk packed in airtight containers. It is crucial to correctly identify and classify the product using this code for international trade. Understanding the duty rates, quantity unit, and special tariff preference programs associated with this HS Code can help importers and exporters optimize their trade operations.
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