When it comes to international trade, it is important to have a standardized system that classifies products. One such system is the Harmonized System (HS) code, which is used by customs authorities around the world to categorize goods. In this article, we will explore HS Code 07149041, which pertains to mixtures of pea pods and Chinese water chestnuts that are frozen.
The product description of HS Code 07149041 specifically refers to frozen mixtures of pea pods and Chinese water chestnuts. Pea pods, also known as snow peas or sugar snap peas, are a type of edible podded pea that is commonly used in various cuisines. Chinese water chestnuts, on the other hand, are aquatic vegetables that have a crunchy texture and a slightly sweet taste.
Under the HS code system, each product is assigned a unique code that helps in the classification and identification of goods. HS Code 07149041 is specifically assigned to mixtures of pea pods and Chinese water chestnuts that are frozen. This code ensures that these products can be easily identified and tracked in international trade.
When it comes to the import and export of goods, tariffs play a crucial role. The bound or most-favored nation (MFN) duty rate for HS Code 07149041 is 7.9%. The MFN duty rate is the rate that applies to all trading partners of a country, ensuring equal treatment for goods and services. 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.
The quantity unit for HS Code 07149041 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of goods being imported or exported. It ensures a standardized measurement system that can be easily understood and compared across different countries.
There are also various special tariff preference programs that apply to HS Code 07149041. These programs provide certain countries with preferential treatment or duty-free access to the product. Some of the countries that enjoy special tariff rates for this HS code include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and many others.
These special tariff preference programs are designed to promote trade and economic cooperation between countries. They provide incentives for businesses to engage in cross-border trade and can help drive economic growth. By offering duty-free treatment or special rates, these programs aim to reduce trade barriers and increase market access for certain countries.
HS Code 07149041 refers to frozen mixtures of pea pods and Chinese water chestnuts. This HS code plays a crucial role in the classification and identification of these products in international trade. The bound duty rate for this HS code is 7.9%, and it is applicable to all trading partners. However, there are also special tariff preference programs in place that provide certain countries with duty-free treatment or special rates. These programs aim to promote trade and economic cooperation between countries. Understanding HS codes and tariff preference programs is essential for businesses involved in international trade.