Upland cotton is a specific type of cotton that falls under the HS Code 99035217. This HS code is used to classify and identify this particular product for international trade purposes. In this article, we will explore the details and implications of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The product description for HS Code 99035217 is "Upland cotton, within specified quantity limitations, within Special Cotton Import Quota Ann. No. 17 for a 180-day period." This means that the code is specifically assigned to Upland cotton that falls within the specified quantity limitations set by the Special Cotton Import Quota Announcement No. 17. This quota is applicable for a period of 180 days.
The Bound / MFN (Most Favored Nation) duty rate refers to the rate of duty that is applied to the import of goods regardless of their origin. It is the maximum duty rate that a country can impose on a particular product. In the case of HS Code 99035217, the specific duty rate is not mentioned. However, it is important to note that whenever a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This principle ensures fair and non-discriminatory trade practices.
The quantity unit for HS Code 99035217 is not available (NA). This means that the specific unit of measurement for the quantity of Upland cotton imported or exported under this HS code is not specified. It could be kilograms, bales, or any other unit as per the requirements of the importing or exporting country.
Under HS Code 99035217, Upland cotton may be eligible for special tariff preference programs. One such program is the NAFTA (North American Free Trade Agreement) for Canada. The specific tariff rate for Upland cotton under this program is 10%, and it receives duty-free treatment. This means that Upland cotton imported from the United States to Canada under HS Code 99035217 can enjoy a reduced tariff rate of 10% or no tariff at all, depending on the specific provisions of the trade agreement.
HS Code 99035217 is applicable to Upland cotton being imported into or exported from the United States. The specific states involved in the import or export process may vary depending on the trading partners and the demand for Upland cotton in different regions. It is important for traders and businesses to be aware of the specific regulations and requirements of the importing and exporting US states when dealing with Upland cotton under this HS code.
HS Code 99035217 is used to classify Upland cotton within the Special Cotton Import Quota Ann. No. 17 for a 180-day period. It is important for traders and businesses to understand the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code for successful international trade of Upland cotton.