HS Code 04029968: Milk and Cream (Except Condensed Milk), Concentrated in Non-Solid Forms, Sweetened
Milk and cream are essential dairy products that are consumed worldwide. They have a wide range of applications in various industries, including food and beverage, confectionery, and dairy processing. HS Code 04029968 specifically refers to milk and cream (except condensed milk), which are concentrated in non-solid forms and sweetened.
The Harmonized System (HS) is an international standard for classifying traded products. It is used by customs authorities around the world to identify and categorize goods for import and export purposes. HS Code 04029968 is a specific code assigned to milk and cream products that meet the criteria mentioned above.
The product description for HS Code 04029968 includes the requirement that the milk and cream are concentrated in non-solid forms and sweetened. This means that the milk and cream have undergone a process of concentration, such as evaporation, to reduce their water content. Additionally, they have been sweetened to enhance their taste. It is important to note that condensed milk is not included in this category.
The bound or Most Favored Nation (MFN) duty rate for HS Code 04029968 is 17.5%. The MFN duty rate is a tariff applied to imports or exports when a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners are subject to the same duty rate. In the case of HS Code 04029968, the duty rate is 17.5% regardless of the country of origin.
The quantity unit for HS Code 04029968 is kilograms (KG). This means that the measurement and trading of milk and cream products under this HS code are based on weight.
There are several special tariff preference programs applicable to imports of milk and cream products under HS Code 04029968. These programs offer preferential treatment, including duty-free access, to specific countries. Some of the programs include:
1. Generalized System of Preferences (GSP): Only imports from least-developed beneficiary developing countries eligible for GSP under that subheading receive duty-free treatment.
2. Australia Special Rate: Australia applies a special rate for imports of milk and cream products.
3. Bahrain Special Rate: Bahrain applies a special rate for imports of milk and cream products.
4. NAFTA for Canada: Imports of milk and cream products from Canada receive duty-free treatment under the North American Free Trade Agreement (NAFTA).
5. Chile Special Rate: Chile applies a special rate for imports of milk and cream products.
6. Africa Growth and Opportunity Act (AGOA): Imports of milk and cream products from eligible African countries receive duty-free treatment under AGOA.
7. Caribbean Basin Initiative (CBI): Imports of milk and cream products from eligible Caribbean countries receive duty-free treatment under the CBI.
8. Israel Special Rate: Israel applies a special rate for imports of milk and cream products.
9. Andean Trade Preference Act (ATPA): Imports of milk and cream products from eligible Andean countries receive duty-free treatment under ATPA.
10. Jordan Special Rate: Jordan applies a special rate for imports of milk and cream products.
11. Morocco Special Rate: Morocco applies a special rate for imports of milk and cream products.
12. NAFTA for Mexico: Imports of milk and cream products from Mexico receive duty-free treatment under NAFTA.
13. Oman Special Rate: Oman applies a special rate for imports of milk and cream products.
14. Dominican Republic-Central American Special Rate (DR-CAFTA): Imports of milk and cream products from eligible DR-CAFTA countries receive duty-free treatment.
15. Peru Special Rate: Peru applies a special rate for imports of milk and cream products.
16. Singapore Special Rate: Singapore applies a special rate for imports of milk and cream products.
HS Code 04029968 is relevant for both importing and exporting US states. However, the specific states involved in the trade of milk and cream products under this HS code are Idaho, New Mexico, and Nevada.
HS Code 04029968 covers milk and cream products that are concentrated in non-solid forms and sweetened. It is important for importers and exporters to understand the specific requirements and duty rates associated with this HS code when engaging in international trade. The special tariff preference programs mentioned provide opportunities for duty-free treatment for eligible countries, promoting trade and economic development.
More on HS code 04029968
