The HS Code 18062020 refers to a specific product description known as "Preparation consisting wholly of ground cocoa beans, containing not less than 32% butterfat and 60% sugar, in blocks or slabs weighing 4.5 kg or more each." This article aims to provide an extensive educational guide about this HS code, including its definition, bound duty rates, quantity units, special tariff preference programs, and importing/exporting US states.
The product described under HS Code 18062020 is a preparation made entirely from ground cocoa beans. It must contain a minimum of 32% butterfat and 60% sugar. These preparations are typically found in the form of blocks or slabs, with each block or slab weighing 4.5 kg or more.
The bound duty rate is the maximum rate of duty that a country can impose on imports of a particular product. The MFN (Most Favored Nation) duty rate is the rate charged to all trading partners equally. 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.
For the product under HS Code 18062020, the bound / MFN duty rate is free. This means that there are no additional duties or charges imposed on imports of this product.
The quantity unit for the product under HS Code 18062020 is kilograms (KG). This unit of measurement is used to determine the weight of the product being imported or exported.
There are several special tariff preference programs associated with the product under HS Code 18062020. These programs provide specific tariff rates or exemptions for certain countries. Here are the details of each program:
The product under HS Code 18062020 has specific importing and exporting requirements for US states. The following states are involved:
These states play a significant role in the import and export of the product described under HS Code 18062020.
the HS Code 18062020 refers to a preparation consisting wholly of ground cocoa beans, containing a specific amount of butterfat and sugar, and presented in blocks or slabs. This article provided a comprehensive guide to this HS code, including its product description, bound duty rates, quantity units, special tariff preference programs, and the involvement of specific US states in importing and exporting. Understanding this HS code is crucial for businesses involved in the import and export of cocoa-based preparations.