The HS Code 04062034 refers to Colby cheese that is grated or powdered. This specific product falls under the general note 15 of the Harmonized Tariff Schedule (HTS). The HTS is an internationally recognized system used to classify goods for customs purposes.
When importing or exporting Colby cheese under this HS code, it is important to be aware of the associated regulations, duty rates, and special tariff preference programs. Let's delve into the details:
The product description for HS Code 04062034 is Colby cheese, which has been grated or powdered. Colby cheese is a semi-hard American cheese made from cow's milk. It has a mild flavor and is commonly used in various dishes and recipes.
The bound / Most Favored Nation (MFN) duty rate for HS Code 04062034 is 20%. The MFN principle states that every time a country lowers a trade barrier or opens up a market, it must do so equally for all its trading partners, applying the same duty rate for the same goods or services.
This means that if a country reduces its import duty on Colby cheese under this HS code, it must offer the same reduced duty rate to all its trading partners. Conversely, if a country increases its import duty, it must apply the same increase to all its trading partners.
The quantity unit for HS Code 04062034 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported Colby cheese.
Under HS Code 04062034, there are several special tariff preference programs that may apply to the importation of Colby cheese, depending on the countries involved. These programs offer preferential treatment in terms of duty rates. Here are some of them:
It is essential to review the specific requirements and eligibility criteria of each special tariff preference program to benefit from the applicable duty-free treatment.
HS Code 04062034 applies to Colby cheese imports and exports in the United States. The importing US states refer to the states where the Colby cheese is being brought into the country, while the exporting US states indicate the states from which the Colby cheese is being sent to other countries.
Understanding the HS Code 04062034 and its associated regulations, duty rates, and special tariff preference programs is crucial for businesses involved in the importation or exportation of Colby cheese. Compliance with customs regulations and taking advantage of relevant tariff programs can help businesses minimize costs and maximize opportunities in the international trade of Colby cheese.