The HS Code 98220425 refers to goods of Australia that fall under certain dairy subheadings and are subject to the quantitative limits specified in US note 13 to this subchapter. This code is used to classify and identify these specific goods for trade and customs purposes.
When it comes to international trade, the HS Code plays a crucial role in facilitating the movement of goods across borders. It is a standardized system used by countries worldwide to classify products and determine the applicable tariffs and trade measures. By using the HS Code, customs officials and traders can easily identify the nature and characteristics of a product, ensuring smooth and efficient trade operations.
The HS Code 98220425 specifically pertains to goods of Australia, indicating that these products originate from Australia. The code includes various dairy subheadings, which means that it covers a wide range of dairy products such as milk, cheese, butter, and yogurt.
One important aspect to note is that these goods are subject to the quantitative limits specified in US note 13 to this subchapter. This means that there are specific restrictions on the quantity of these goods that can be imported or exported. These limits are put in place to manage and regulate the trade of these products, ensuring a fair and balanced market for both domestic producers and international traders.
When it comes to trade barriers and market access, the MFN (Most Favored Nation) principle plays a significant role. According to this principle, 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 equal treatment and non-discriminatory trade practices among countries.
The bound / MFN duty rate for goods under HS Code 98220425 varies depending on the specific product. The duty rate is the rate of duty that has been agreed upon and bound by a country in its commitments to the World Trade Organization (WTO). It represents the maximum rate of duty that can be charged on the imported goods. However, countries often apply lower or zero duty rates based on special tariff preference programs.
In the case of goods under HS Code 98220425, they are eligible for a special tariff preference program called "Free (AU)". This program provides preferential treatment to goods originating from Australia. It allows these goods to enter the importing US states duty-free or at a reduced duty rate. This initiative aims to promote trade between Australia and the United States, fostering economic cooperation and benefiting both countries.
It is important to note that the quantity unit for goods under HS Code 98220425 is not available (NA). This means that the specific unit of measurement for these goods is not specified or relevant in this context. The absence of a quantity unit does not affect the classification or trade of these goods, but it is essential to consider when dealing with quantity-related matters.
the HS Code 98220425 is used to classify and identify goods of Australia falling under certain dairy subheadings. These goods are subject to quantitative limits and may attract the bound / MFN duty rate, but are also eligible for the special tariff preference program "Free (AU)". Understanding and complying with this HS Code is crucial for traders and customs officials involved in the import and export of these goods, ensuring smooth and efficient trade between Australia and the United States.