The HS Code 98150040 refers to fish (except cod, cusk, haddock, hake, mackerel, pollock, and swordfish) that are landed abroad only for evisceration and/or chilling or freezing purposes. This code is essential for trade purposes as it helps classify and identify specific products for import and export activities. In this article, we will delve into the details of HS Code 98150040, including its product description, quantity unit, bound/MFN duty rate, and special tariff preference programs.
Fish falling under HS Code 98150040 are those species except for cod, cusk, haddock, hake, mackerel, pollock, and swordfish. These fish are landed abroad solely for evisceration and/or chilling or freezing processes. It is important to note that the exclusion of specific fish species helps maintain clarity and accuracy in trade transactions.
The bound/MFN duty rate for HS Code 98150040 is free. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This ensures fair and equitable trade practices, allowing all countries to benefit from the global market.
The quantity unit for HS Code 98150040 is kilograms (KG). This unit of measurement helps standardize the quantity of fish being imported or exported, making it easier for traders to accurately determine the volume and value of their transactions.
Under HS Code 98150040, there are various special tariff preference programs that apply to different countries. These programs offer either duty-free treatment or a specific percentage of the fair retail value as the duty rate. Let's take a closer look at these programs:
These special tariff preference programs aim to promote trade relations and provide economic benefits to participating countries. Importers and exporters should familiarize themselves with the specific programs applicable to their trading partners to maximize cost savings and enhance trade efficiency.
While the provided data does not mention any specific exporting US states, it is important to consider the importing US states when conducting trade under HS Code 98150040. In this case, Utah is the importing US state. Traders should be aware of any additional regulations or requirements imposed by the importing state to ensure compliance and smooth trade operations.
HS Code 98150040 plays a crucial role in the importation and exportation of fish, excluding certain species, for evisceration and/or chilling or freezing purposes. Understanding the product description, quantity unit, bound/MFN duty rate, and special tariff preference programs associated with this HS Code is essential for successful trade transactions. By staying informed and adhering to relevant regulations, importers and exporters can navigate the global market with confidence and efficiency.