Condensed milk is a popular dairy product that has been widely used in various culinary applications. It is a thick and creamy milk product that has been reduced to remove water content, giving it a rich and concentrated flavor. In this article, we will explore the HS code 04029955, which specifically refers to sweetened condensed milk that is not packaged in airtight containers and is not subject to general note 15 or additional US note 11 to Chapter 4 of the Harmonized System (HS) code.
The HS code is an internationally recognized system for categorizing traded products. It helps facilitate international trade by providing a standardized classification for goods. HS code 04029955 specifically pertains to sweetened condensed milk that meets the specified criteria.
One important aspect to consider when importing or exporting products is the duty rate associated with the HS code. In the case of HS code 04029955, the bound or Most Favored Nation (MFN) duty rate is 49.6 cents per kilogram (KG).
It is worth noting that trade barriers and market openness play a significant role in determining the duty rates. Whenever 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 principle ensures fair and equal treatment for all trading partners.
The quantity unit for HS code 04029955 is kilograms (KG). This unit of measurement is widely used in the international trade of goods, providing a standardized way to quantify the volume or weight of products.
Additionally, there are special tariff preference programs associated with HS code 04029955. These programs offer specific tariff rates or exemptions for certain countries. For example:
When importing or exporting condensed milk under HS code 04029955, it is essential to consider the specific tariff preference programs that may apply based on the country of origin or destination.
Finally, let's take a look at the US states involved in the import and export of condensed milk under this HS code:
These states play a role in the trade of condensed milk, either as importers or exporters, contributing to the overall flow of goods between countries.
HS code 04029955 refers to sweetened condensed milk that is not packaged in airtight containers and is not subject to specific notes in the Harmonized System. Understanding the HS code, duty rates, special tariff preference programs, and the involvement of specific US states in the trade of this product is crucial for importers, exporters, and stakeholders in the dairy industry.