The HS Code 20059955 represents a specific category of fruits known as Capsicum or Pimenta, which are prepared or preserved in a manner other than by vinegar or acetic acid. These fruits are not frozen, making them suitable for various culinary purposes.
When it comes to international trade, it is crucial to have a standardized system for classifying products. The HS Code system, also known as the Harmonized System, is an internationally recognized method of categorizing goods. This system ensures uniformity and simplifies the process of international trade by providing a consistent code for each product.
HS Code 20059955 specifically refers to fruits of the genus Capsicum or Pimenta that have been prepared or preserved, excluding pimientos, and are not frozen. This code helps customs authorities and traders identify and classify these specific types of fruits accurately.
The bound or most-favored-nation (MFN) duty rate for HS Code 20059955 is 14.9%. The MFN duty rate is the rate applied to imports from all trading partners when a country lowers a trade barrier or opens up a market. In other words, if a country reduces its duties for a particular product, it must do so for all its trading partners.
The quantity unit for HS Code 20059955 is kilograms (KG). This unit of measurement helps facilitate the trading process by providing a standardized unit for calculating quantities.
Furthermore, there are special tariff preference programs available for imports under HS Code 20059955. These programs offer reduced or duty-free rates for eligible countries. Some of the special tariff preference programs applicable to this HS Code include:
In addition to these special tariff preference programs, there are specific rates applicable to certain countries:
When importing goods under HS Code 20059955 into the United States, it is essential to consider the specific regulations and requirements of both the importing and exporting states. These regulations may vary, and compliance is necessary to ensure a smooth and legal trade process.
Overall, HS Code 20059955 plays a significant role in classifying and regulating the import and export of fruits of the genus Capsicum or Pimenta. This code, along with the associated duty rates and special tariff preference programs, helps facilitate international trade, ensuring fair and consistent treatment for trading partners.