The HS Code 07112028 refers to a specific product: Olives that are not pitted, green in color, preserved in saline solution, and packed in containers weighing more than 8 kilograms. These olives are intended for repacking or sale and are not subject to additional taxes or duties as per the United States Note 5 to Chapter 7.
When importing or exporting this product, it is important to understand the regulations and trade barriers associated with it. The Bound / MFN (Most Favored Nation) duty rate for this product is 5.9 cents per kilogram on the drained weight. This means that every time 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.
The quantity unit for this product is kilograms (KG). This is the standard unit of measurement used for determining the weight of the olives when calculating taxes and duties.
There are several special tariff preference programs that apply to this HS Code. These programs offer reduced or duty-free rates for importing countries. The following countries and regions have special tariff preferences for this product:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved. By providing reduced or duty-free rates, they encourage the importation of this product and facilitate international trade.
When importing this product into the United States, it is essential to consider the exporting state and the importing state. Different states may have specific regulations or requirements for the importation of goods. Similarly, the exporting state may have its own rules regarding the exportation of this product.
Understanding the HS Code 07112028 and its associated regulations can help importers and exporters navigate the international trade landscape more effectively. By taking advantage of special tariff preference programs and complying with trade barriers, businesses can successfully engage in the import and export of olives.