Cocoa preps are a popular product in the global market, enjoyed by people of all ages. The HS Code 18063255 specifically refers to cocoa preps that are not filled and are in the form of blocks, slabs, or bars weighing 2 kg or less. This code is used for the classification of this particular type of cocoa product in international trade.
When it comes to international trade, various regulations and tariffs apply to different products. The HS Code system is used worldwide to establish a standardized classification for traded goods. It helps in facilitating trade by providing a common language for customs authorities, importers, and exporters.
The HS Code 18063255 is applied to cocoa preps that are not filled and are presented in the form of blocks, slabs, or bars weighing 2 kg or less. These cocoa preps are commonly used in the production of various chocolate products, desserts, and beverages.
The "subject to gen. note 15 of the HTS" mentioned in the product description refers to General Note 15 of the Harmonized Tariff Schedule (HTS). This note provides additional details and regulations regarding the import and export of cocoa preps.
The Bound / MFN (Most Favored Nation) Duty Rate for HS Code 18063255 is 7%. The MFN duty rate is applied to all trading partners equally. This means that every country must lower its trade barriers or open up its market for the same goods or services from all its trading partners.
Trade barriers can take the form of import duties, quotas, or other restrictions. By setting a bound / MFN duty rate, countries ensure fair and equal treatment for all trading partners, promoting free and open trade.
The quantity unit for HS Code 18063255 is kilograms (KG). This unit of measurement is used to determine the weight of the cocoa preps in blocks, slabs, or bars.
Various special tariff preference programs exist that provide certain countries with preferential treatment for the import of cocoa preps under HS Code 18063255. These programs allow eligible countries to enjoy reduced or duty-free treatment for the specified goods. The following countries benefit from special tariff preference programs for this HS Code:
These countries enjoy special rates or duty-free treatment for the import of cocoa preps under HS Code 18063255. This encourages trade and strengthens economic relationships between the countries involved.
While the HS Code system is used globally, it is also relevant to specific countries and regions. In the case of the United States, individual states can import and export goods classified under specific HS Codes.
For HS Code 18063255, the following US state is known to import this product:
It is worth noting that the list provided above is not exhaustive and may vary over time as trade patterns and regulations change.
The HS Code 18063255 is crucial for the classification and regulation of cocoa preps in international trade. It helps in establishing uniformity and transparency in the global market, enabling efficient customs procedures and trade negotiations. Understanding the product description, bound / MFN duty rate, quantity unit, special tariff preference programs, and importing/exporting US states associated with this HS Code is essential for businesses and individuals involved in the import and export of cocoa preps.