Upland cotton is a specific type of cotton that falls under the HS Code 99035215. This HS code is used to classify and identify the product for international trade purposes. In this article, we will explore the details of this HS code and understand its implications for trade and import/export activities.
The product description for HS Code 99035215 is "Upland cotton, w/in specified quant. limitations, within Special Cotton Import Quota Ann. No. 15 for 180-day period." This description provides important information about the type of cotton and the specific limitations and quota associated with its import.
The Bound / MFN duty rate refers to the quantity specified in the announcement made by a country when it lowers a trade barrier or opens up a market. It is important for every country to apply the same trade rules and regulations for the same goods or services from all its trading partners. This ensures fairness and equal treatment in international trade.
Unfortunately, the quantity unit for HS Code 99035215 is not available (NA). This means that the specific unit of measurement for the quantity of upland cotton within the import quota is not specified or disclosed. It is essential for importers and exporters to seek further clarification regarding the quantity unit from the respective authorities or governing bodies.
Under HS Code 99035215, the special tariff preference program applicable is 10% (CA). This means that the import of upland cotton into the country specified in the announcement (in this case, Canada) is eligible for a reduced duty rate of 10%. This particular tariff preference is provided under the North American Free Trade Agreement (NAFTA) for Canada, which grants duty-free treatment to certain goods imported from the United States.
HS Code 99035215 is applicable for importing and exporting upland cotton between various US states. The specific states involved in the import and export activities may vary depending on the trade agreements, market demands, and supply chain dynamics. Importers and exporters need to adhere to the regulations and requirements set by the respective states and ensure compliance with the HS code specifications.
HS Code 99035215 is used to classify and identify upland cotton within the Special Cotton Import Quota Ann. No. 15. This HS code provides important information about the product, duty rates, quantity limitations, and special tariff preference programs. Importers and exporters should familiarize themselves with the regulations and requirements associated with this HS code to ensure smooth and compliant trade operations.