When it comes to international trade, it is essential to have a standardized system to classify products. The Harmonized System (HS) Code is an internationally recognized system used to classify goods. Each HS Code represents a specific product, and it helps in determining the applicable customs duties, taxes, and regulations for that product.
The HS Code 18062026 refers to a particular type of chocolate. Let's explore this HS Code in detail and understand its product description, duty rates, quantity unit, and special tariff preferences.
The product described by the HS Code 18062026 is chocolate. It falls under the category of chocolate products weighing over 2 kilograms and containing milk solids. However, it should not be in blocks weighing 4.5 kilograms or more. Additionally, this chocolate should not be subject to Ch18 US note 2/GN15 and should have over 5.5 percent butterfat content but less than 21 percent milk solids.
This detailed description ensures that the specific type of chocolate is correctly identified for import and export purposes.
The bound / most-favored-nation (MFN) duty rate for the HS Code 18062026 is 37.2 cents per kilogram, plus an additional 4.3% of the product value. The MFN duty rate is the standard rate applied to most trading partners unless specific trade agreements or preferences come into play.
It is important to note that the duty rate may vary if a country lowers a trade barrier or opens up a market. In such cases, the same goods or services from all trading partners should receive the same treatment. This principle ensures fair trade practices and equal opportunities for all countries involved.
The quantity unit for the HS Code 18062026 is kilograms (KG). This unit of measurement helps in accurately determining the weight of the chocolate being imported or exported. It ensures consistency and clarity in international trade transactions.
Some countries have special tariff preference programs in place for the HS Code 18062026. These programs provide certain benefits or exemptions to encourage trade and foster economic cooperation. Here are the special tariff preference programs associated with this HS Code:
These special tariff preference programs aim to promote trade between specific countries by offering favorable conditions for the import and export of the HS Code 18062026 chocolate.
The data provided does not specify the exporting US states for the HS Code 18062026 chocolate. However, it mentions that it is being imported into Vermont. This information suggests that Vermont is one of the destinations for this chocolate product.
Understanding the HS Code 18062026 and its associated details is crucial for importers, exporters, and government authorities involved in international trade. It ensures accurate classification, appropriate duty rates, and compliance with trade regulations. By adhering to the HS Code system, countries can facilitate smooth and transparent global trade.