When it comes to international trade, it is essential to have a standardized system that allows countries to classify and identify goods. The Harmonized System (HS) is a globally recognized system that assigns unique codes to products, facilitating trade and ensuring consistency in customs procedures.
One such HS code is 10063010, which is assigned to rice that is semi-milled or wholly milled, whether or not polished or glazed, and parboiled. This code helps customs authorities and traders accurately classify and regulate the import and export of this specific type of rice.
The HS code 10063010 provides detailed information about the product description, quantity unit, and applicable tariff rates for trade purposes. Let's delve deeper into the specifics:
The product description for HS code 10063010 is rice that has undergone the process of milling, whether partially or completely, and can be either polished or glazed. Additionally, the rice is parboiled, which involves partially cooking the rice in its husk before milling. This process improves the nutritional value and enhances the cooking properties of the rice.
The bound or most-favored-nation (MFN) duty rate for HS code 10063010 is 11.2%. This means that whenever 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 duty rate ensures fair and equal treatment for all countries involved in trade.
The quantity unit specified for HS code 10063010 is kilograms (KG). This unit of measurement is widely used in international trade to determine the weight of goods being imported or exported.
HS code 10063010 is eligible for various special tariff preference programs, which provide certain countries with preferential treatment or reduced tariff rates. Here are some examples:
These special tariff preference programs aim to foster trade relationships, promote economic development, and provide incentives for countries to engage in international commerce.
HS code 10063010 is relevant for trade between different US states. While the specific importing and exporting states are not mentioned in the provided data, the code is applicable for rice trade within the United States.
Overall, HS code 10063010 plays a crucial role in regulating the import and export of rice that is semi-milled or wholly milled, whether or not polished or glazed, and parboiled. It helps customs authorities, traders, and policymakers ensure accurate classification, appropriate duty rates, and compliance with international trade agreements.