Beans are a versatile and nutritious food that have been enjoyed by people around the world for centuries. Whether used in soups, salads, or as a side dish, beans offer a variety of health benefits and flavors. In this educational article, we will delve into the details of HS Code 20049080, which refers to beans that are prepared or preserved otherwise than by vinegar or acetic acid, and are frozen.
The Harmonized System (HS) is an international nomenclature for the classification of products in international trade. HS Code 20049080 specifically categorizes beans that have undergone preparation or preservation methods other than vinegar or acetic acid, and are frozen.
The code serves as a standardized classification system that helps facilitate global trade by ensuring uniformity in the classification of goods. It is used by customs authorities to determine the appropriate duty rates, as well as by statisticians, researchers, and businesses for various analytical purposes.
According to the data provided, the bound or Most Favored Nation (MFN) duty rate for beans classified under HS Code 20049080 is 2.1 cents per kilogram (kg) on the entire contents of the container. The MFN duty rate applies to all trading partners of a country and remains constant unless a country lowers its trade barriers or opens up its market, in which case the same treatment must be extended to all goods or services from its trading partners.
This duty rate is an essential factor to consider for businesses engaged in the import and export of frozen beans. It influences the cost of trade and can impact the competitiveness of products in the market. Therefore, it is crucial for traders to stay informed about any changes in duty rates to make informed decisions and remain competitive.
HS Code 20049080 is eligible for several special tariff preference programs that offer duty-free treatment for specific countries. These programs aim to promote economic development, foster international trade, and provide preferential treatment to certain trading partners. The following countries benefit from special tariff rates for frozen beans:
These special tariff preference programs provide significant advantages to importers and exporters by eliminating or reducing customs duties. Traders should familiarize themselves with the specific requirements and qualifications of each program to take full advantage of the benefits they offer.
When it comes to the import and export of beans classified under HS Code 20049080, the data provided indicates the following US states involved:
Importing US States:
Exporting US States:
These states serve as important trade partners in the import and export of frozen beans. Traders should consider the logistical aspects, market demand, and potential business opportunities associated with these states when engaging in international trade.
HS Code 20049080 provides a specific classification for beans that are prepared or preserved otherwise than by vinegar or acetic acid, and are frozen. Traders involved in the global bean trade must be aware of the duty rates, special tariff preference programs, and the importing and exporting states related to this HS code. Staying informed about these factors is crucial for successful international trade and maximizing the benefits available through preferential treatment programs.