HS Code 04059010: Fats and Oils Derived from Milk
Fats and oils derived from milk are a popular and versatile product used in various industries, including food processing, cosmetics, and pharmaceuticals. These products, classified under HS Code 04059010, are distinct from butter or dairy spreads and are subject to quota pursuant to chapter 4 additional US note 14. In this article, we will explore the details and implications of this HS Code, including the duty rates, quantity unit, and special tariff preference programs associated with it.
The bound or most-favored-nation (MFN) duty rate for HS Code 04059010 is 10%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for this HS Code is kilograms (KG). This unit of measurement is commonly used in international trade to facilitate accurate and standardized calculations of quantities and prices. By using kilograms as the quantity unit, importers and exporters can easily compare and evaluate different trade offers and transactions.
One significant aspect of HS Code 04059010 is the availability of special tariff preference programs. These programs provide specific benefits and exemptions for imports from certain countries. In the case of this HS Code, the following special tariff preference programs apply:
1. Free Trade Program for Least-Developed Beneficiary Developing Countries (A+): Imports from least-developed beneficiary developing countries eligible for Generalized System of Preferences (GSP) under this subheading receive duty-free treatment.
2. Bahrain Special Rate: Imports from Bahrain are eligible for duty-free treatment.
3. NAFTA for Canada: Imports from Canada receive duty-free treatment under the North American Free Trade Agreement (NAFTA).
4. Chile Special Rate: Imports from Chile are eligible for a special rate.
5. Africa Growth and Opportunity Act (AGOA): Imports from eligible African countries receive duty-free treatment under AGOA.
6. Caribbean Basin Initiative (CBI): Imports from eligible countries in the Caribbean Basin receive duty-free treatment under the CBI program.
7. Israel Special Rate: Imports from Israel are eligible for a special rate.
8. Andean Trade Preference Act (ATPA): Imports from eligible Andean countries receive duty-free treatment under ATPA.
9. Jordan Special Rate: Imports from Jordan are eligible for a special rate.
10. Morocco Special Rate: Imports from Morocco are eligible for a special rate.
11. Oman Special Rate: Imports from Oman are eligible for a special rate.
12. Dominican Republic-Central American Special Rate (DR-CAFTA): Imports from eligible countries under the DR-CAFTA agreement receive duty-free treatment.
13. Peru Special Rate: Imports from Peru are eligible for a special rate.
14. Singapore Special Rate: Imports from Singapore are eligible for a special rate.
These special tariff preference programs aim to promote trade, economic development, and cooperation between the United States and the participating countries. By providing duty-free treatment or special rates, these programs incentivize imports from specific countries and contribute to their economic growth.
In terms of importing and exporting states within the United States, the following states are involved in the trade of fats and oils derived from milk under HS Code 04059010:
- Idaho
- New Mexico
- Nevada
These states play a significant role in the import and export of this product, highlighting their importance in the industry and their potential impact on trade dynamics.
HS Code 04059010 encompasses fats and oils derived from milk, excluding butter or dairy spreads. This HS Code is subject to a 10% bound or MFN duty rate and is measured in kilograms (KG). Importers and exporters of these products can benefit from various special tariff preference programs, which provide duty-free treatment or special rates for imports from specific countries. The involvement of states like Idaho, New Mexico, and Nevada further emphasizes the importance of this HS Code in the overall trade landscape.
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