In the world of international trade, products are classified using a system called the Harmonized System (HS). Each product is assigned a unique HS code, which helps to standardize trade across countries and facilitate the collection of accurate trade statistics. One such HS code is 04029930, which pertains to condensed milk, sweetened, not in airtight containers, subject to additional U.S. note 11 to Chapter 4.
Condensed milk is a popular dairy product that has been treated to remove water content, resulting in a thick and creamy consistency. It is widely used in various culinary applications, such as desserts, beverages, and confectionery. The HS code 04029930 specifically refers to sweetened condensed milk that is not packaged in airtight containers.
When importing condensed milk under HS code 04029930, it is essential to understand the applicable tariffs and special tariff preference programs. The bound/MFN (Most Favored Nation) duty rate for this product is 3.3 cents per kilogram (KG). It is important to note that this rate may vary depending on trade agreements and negotiations between countries.
The principle of MFN treatment means 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 fairness and non-discrimination in international trade. Therefore, the duty rate of 3.3 cents per KG applies uniformly to all countries importing condensed milk under HS code 04029930.
The quantity unit for this HS code is kilograms (KG), which is the standard unit of measurement for most traded goods. This unit provides a common basis for calculating import and export quantities, facilitating accurate trade data analysis.
Furthermore, there are special tariff preference programs that can affect the duty rate for imports of condensed milk under HS code 04029930. These programs provide preferential treatment to certain countries, allowing them to import the product at a reduced or duty-free rate. The following special tariff preference programs apply to the import of condensed milk:
These special tariff preference programs aim to promote economic development, regional integration, and trade cooperation between countries. By granting preferential treatment to specific trading partners, these programs incentivize increased trade and provide opportunities for developing countries to access global markets.
When it comes to importing condensed milk under HS code 04029930 into the United States, it is important to consider the specific states involved in the trade. Based on the available data, the following states have been identified as importing states:
These states play a significant role in the importation of condensed milk and contribute to the overall trade volume of this product.
the HS code 04029930 represents condensed milk, sweetened, not in airtight containers. It is subject to a bound/MFN duty rate of 3.3 cents per KG. However, certain special tariff preference programs may allow for reduced or duty-free treatment for imports of this product. Understanding these tariffs and programs is crucial for businesses involved in the importation of condensed milk, as it can significantly impact their competitiveness and profitability in the global market.