When it comes to international trade, it is essential to have a standardized coding system to classify and identify different products. One such coding system is the Harmonized System (HS) code, which is used by customs authorities worldwide. In this article, we will explore the HS code 04062095, which refers to Cheese (including mixtures), nesoi, o/0.5% by wt of butterfat, not containing cow's milk, grated or powdered.
The HS code 04062095 provides a clear description of the product it represents. In this case, it refers to cheese that is not made from cow's milk and is grated or powdered. The product should not contain more than 0.5% of butterfat. This specific HS code helps customs authorities and traders classify and track the import and export of this particular type of cheese.
Importing or exporting products under the HS code 04062095 may be subject to certain regulations and duties. The bound or Most Favored Nation (MFN) duty rate for this product is 8.5%. 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 applies to all countries unless there are specific tariff preference programs in place.
The quantity unit for the HS code 04062095 is kilograms (KG). This provides a standardized measurement for the import and export of the product, ensuring consistency and accuracy in trade data.
There are also special tariff preference programs available for products classified under HS code 04062095. These programs offer reduced or duty-free treatment for specific countries. For example, imports under this HS code are eligible for duty-free treatment under the following programs: A+, BH, CA, CL, D, E, IL, J, JO, MA, MX, OM, P, PE, and SG. Additionally, Australia has a special rate of 5.6% for imports under this HS code.
It is important to note that each special tariff preference program has its own eligibility criteria and conditions. For example, the free treatment under the Africa Growth and Opportunity Act (AGOA) is only applicable to imports from least-developed beneficiary developing countries. On the other hand, the Bahrain Special Rate is specific to imports from Bahrain, and the NAFTA (North American Free Trade Agreement) special rates apply to Canada and Mexico.
For traders and businesses involved in importing or exporting cheese under the HS code 04062095, it is crucial to be aware of these special tariff preference programs. By taking advantage of these programs, importers can reduce their costs and enhance their competitiveness in the market.
the HS code 04062095 represents a specific type of cheese that is not made from cow's milk, grated or powdered, and contains less than 0.5% butterfat. This HS code facilitates the classification and tracking of the product in international trade. Importers and exporters should be aware of the bound duty rate of 8.5% and the special tariff preference programs available, which can provide reduced or duty-free treatment for specific countries. Understanding and utilizing these programs can significantly benefit businesses involved in the import and export of cheese under this HS code.