Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 20057023: A Comprehensive Guide to Olives, Green, in Saline, Place Packed, Stuffed, Not in Containers Holding 1 kg or Less

Introduction:

When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying products for customs and statistical purposes. In this article, we will delve into the details of HS Code 20057023, which refers to olives, green, in saline, place packed, stuffed, not in containers holding 1 kg or less. We will explore the product description, tariff rates, special tariff preference programs, and the importing and exporting US states associated with this HS Code.

Product Description:

HS Code 20057023 represents a specific type of olives that are green in color, preserved in saline solution, and packed in a place. These olives are also stuffed and are not contained in packages weighing 1 kg or less. The HS Code system provides a standardized classification for this particular type of olives, enabling smooth international trade and customs procedures.

Bound / MFN Duty Rate:

For HS Code 20057023, the bound / MFN (Most Favored Nation) duty rate is 6.9 cents per kilogram (kg) on the drained weight of the olives. It is important to note that this duty rate applies every time a country lowers a trade barrier or opens up a market. This principle ensures that all trading partners receive the same treatment for the goods or services they offer.

Quantity Unit:

The quantity unit for HS Code 20057023 is kilograms (KG). This unit of measurement is used to determine the weight of the olives being imported or exported. It helps in accurate calculation and valuation of the products during trade transactions.

Special Tariff Preference Programs:

HS Code 20057023 is eligible for several special tariff preference programs, providing favorable treatment for importers or exporters. The following programs offer either duty-free treatment or special rates for this specific product:

• Generalized System of Preferences (GSP): Under this program, the olives classified under HS Code 20057023 receive duty-free treatment.
• Australia Special Rate: Australia offers a special rate for the import of olives falling under this HS Code.
• Bahrain Special Rate: Bahrain provides a special rate for the import of olives classified under HS Code 20057023.
• NAFTA for Canada: Olives from this HS Code enjoy duty-free treatment when imported to Canada under the North American Free Trade Agreement.
• Chile Special Rate: Chile offers a special rate for the import of olives classified under this HS Code.
• Caribbean Basin Initiative (CBI): The olives falling under this HS Code are eligible for preferential treatment under the CBI program.
• Israel Special Rate: Israel provides duty-free treatment for olives classified under HS Code 20057023.
• Andean Trade Preference Act (ATPA): This program offers preferential treatment for olives from this HS Code.
• Jordan Special Rate: Jordan provides a special rate for the import of olives classified under this HS Code.
• Morocco Special Rate: Morocco offers a special rate for the import of olives falling under HS Code 20057023.
• NAFTA for Mexico: Olives from this HS Code enjoy duty-free treatment when imported to Mexico under the North American Free Trade Agreement.
• Oman Special Rate: Oman provides a special rate for the import of olives classified under this HS Code.
• Dominican Republic-Central American Special Rate (DR-CAFTA): This program offers preferential treatment for olives from this HS Code.
• Peru Special Rate: Peru offers a special rate for the import of olives classified under this HS Code.
• Singapore Special Rate: Singapore provides a special rate for the import of olives falling under HS Code 20057023.

Importing US States:

For olives classified under HS Code 20057023, the importing US states include the following:

• Virgin Islands
• Virgin Islands

Exporting US States:

The exporting US states associated with olives falling under HS Code 20057023 are:

• Oregon
• Washington
• Oregon
• Washington

Conclusion:

HS Code 20057023 represents a specific type of olives, namely green olives preserved in saline solution, place packed, stuffed, and not contained in packages weighing 1 kg or less. Understanding the product description, tariff rates, special tariff preference programs, and the associated importing and exporting US states is essential for businesses engaged in international trade. By adhering to the regulations and leveraging the available tariff preference programs, importers and exporters can optimize their operations and enhance their competitiveness in the global market.