HS Code 99040215 plays a crucial role in the international trade of frozen beef carcasses. This code is used to classify and identify these products, ensuring smooth and efficient trade between countries. In this article, we will explore the details of HS Code 99040215, its significance, and the associated trade information.
HS Code 99040215 specifically refers to beef carcasses that are frozen. These carcasses fall under two subcategories - 0202.10.50 and 0202.20.80. The products falling under this code are subject to a value safeguard period, where the importers must pay a specified range of prices per kilogram ($1.15-$1.349/kg).
For products classified under HS Code 99040215, the bound / MFN (Most Favored Nation) duty rate is 8.4 cents per kilogram. 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 duty rate helps maintain fairness and equality in international trade.
The quantity unit for HS Code 99040215 is kilograms (KG). This unit is used to measure the weight of the frozen beef carcasses being traded. Kilograms provide a standardized and universally accepted unit of measurement, ensuring accuracy and consistency in trade transactions.
There are various special tariff preference programs that may apply to the import or export of frozen beef carcasses under HS Code 99040215. These programs exist to promote trade, economic growth, and development between specific countries or regions. Some of the popular programs include Free Trade Agreements (FTAs) and Regional Trade Agreements (RTAs).
HS Code 99040215 affects the trade of frozen beef carcasses in both importing and exporting US states. The importers in the US must accurately classify and declare the products using the HS code to ensure compliance with customs regulations. Similarly, the exporting US states must adhere to the same code to facilitate the smooth movement of goods across borders.
HS Code 99040215 is of great importance for the trade of frozen beef carcasses. It helps classify, identify, and regulate the import and export of these products. The bound / MFN duty rate, quantity unit, and special tariff preference programs associated with this code further enhance the efficiency and fairness of international trade. By adhering to this code, countries can establish a level playing field and foster mutually beneficial trade relationships.