HS Code 12022005: All You Need to Know about Peanuts
Peanuts, also known as ground-nuts, are a popular snack and ingredient used in various cuisines around the world. In this article, we will provide a comprehensive overview of peanuts, focusing on their classification under HS Code 12022005.
HS Code 12022005 specifically refers to peanuts that are not roasted or cooked, but are shelled. Additionally, these peanuts are subject to general note 15 of the Harmonized Tariff Schedule (HTS). This code is essential for international trade as it helps in the proper classification and identification of peanuts during import and export processes.
When it comes to trade barriers and market access, countries often apply specific duty rates to certain goods. For peanuts falling under HS Code 12022005, the bound and most-favored nation (MFN) duty rate is 6.6 cents per kilogram (KG). This means that every time a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners.
The quantity unit for peanuts classified under HS Code 12022005 is kilograms (KG). This unit of measurement is used to determine the weight and quantity of peanuts being imported or exported.
In terms of special tariff preference programs, peanuts under HS Code 12022005 are eligible for various benefits. These include:
1. Free Trade: Peanuts imported from least-developed beneficiary developing countries are eligible for duty-free treatment under this subheading. This program aims to promote the economic growth and development of these countries by facilitating their access to international markets.
2. Australia Special Rate: Peanuts imported from Australia enjoy a special rate under this program, allowing for favorable trade conditions between the exporting country and the United States.
3. Bahrain Special Rate: Peanuts imported from Bahrain are subject to a special rate, which promotes trade relations between the two countries.
4. NAFTA for Canada: Peanuts imported from Canada under the North American Free Trade Agreement (NAFTA) are eligible for duty-free treatment. This agreement aims to promote free trade between Canada, the United States, and Mexico.
5. Chile Special Rate: Peanuts imported from Chile are subject to a special rate, which encourages bilateral trade between the two countries.
6. Africa Growth and Opportunity Act (AGOA): Peanuts imported from eligible African countries under AGOA are granted duty-free treatment. This program aims to promote economic growth and development in Africa by supporting exports to the United States.
7. Caribbean Basin Initiative (CBI): Peanuts imported from the Caribbean Basin countries are eligible for duty-free treatment under this initiative. The CBI aims to strengthen economic cooperation and development between the United States and the Caribbean countries.
8. Israel Special Rate: Peanuts imported from Israel enjoy duty-free treatment under this program, fostering trade relations between the two countries.
9. Andean Trade Preference Act (ATPA): Peanuts imported from countries eligible under ATPA are granted duty-free treatment. This program aims to promote economic development and strengthen trade ties between the United States and Andean countries.
10. Jordan Special Rate: Peanuts imported from Jordan are subject to a special rate, promoting trade relations between the two countries.
11. Morocco Special Rate: Peanuts imported from Morocco enjoy a special rate, which enhances trade between the exporting country and the United States.
12. NAFTA for Mexico: Peanuts imported from Mexico under NAFTA are eligible for duty-free treatment, promoting free trade between the two countries.
13. Oman Special Rate: Peanuts imported from Oman are subject to a special rate, fostering trade relations between the two countries.
14. Dominican Republic-Central American Special Rate (DR-CAFTA): Peanuts imported from the Dominican Republic and Central American countries under DR-CAFTA enjoy a special rate. This agreement aims to enhance trade and economic cooperation between the United States and these countries.
15. Peru Special Rate: Peanuts imported from Peru are subject to a special rate, promoting trade relations between the exporting country and the United States.
16. Singapore Special Rate: Peanuts imported from Singapore enjoy a special rate, fostering trade relations between the two countries.
When it comes to importing peanuts under HS Code 12022005, the state of Kansas in the United States plays a significant role. Kansas serves as an important hub for peanut importation and distribution within the country.
In summary, HS Code 12022005 refers to shelled peanuts that are not roasted or cooked. This code helps in the proper classification and identification of peanuts during import and export processes. Peanuts falling under this code are subject to various tariff preference programs, allowing for favorable trade conditions between the United States and its trading partners. With the state of Kansas being a key player in peanut importation, the demand for peanuts under this HS code remains significant.
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