When it comes to international trade, there are many regulations and codes in place to ensure smooth and fair transactions. One such code is the HS Code, which stands for Harmonized System Code. This code is used to classify and identify products for customs purposes. In this article, we will explore HS Code 99040413, which pertains to butter and cream with over 45% butterfat.
The product description for HS Code 99040413 states that it applies to butter and cream with over 45% butterfat in the following tariff codes: 0401.30.75, 0403.90.78, and 0405.00.40. These codes are used to identify specific types of butter and cream products for import purposes.
It is important to note that HS Code 99040413 is subject to a value safeguard period. This means that the import of butter and cream falling under this code is regulated during a specific timeframe. The value safeguard period for this HS Code is currently set at $1.20-$1.399 per kilogram.
In terms of duty rates, the bound or Most Favored Nation (MFN) duty rate for HS Code 99040413 is 38.4 cents per kilogram. The MFN duty rate is an important factor to consider when importing butter and cream, as it affects the cost of the products. It is worth mentioning that whenever 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.
The quantity unit for HS Code 99040413 is kilograms (KG). This means that the import and export quantities for butter and cream under this HS Code are measured in kilograms.
Special tariff preference programs may also apply to imports of butter and cream under HS Code 99040413. These programs provide certain benefits or exemptions for specific goods imported from certain countries or regions. It is important for importers to be aware of any special tariff preference programs that may apply to their imports of butter and cream.
When importing butter and cream under HS Code 99040413, it is crucial to understand the regulations and requirements of both the importing and exporting US states. Each state may have its own specific rules and guidelines for importing and exporting goods, including butter and cream. It is advisable to consult with the relevant authorities or seek professional assistance to ensure compliance with all applicable regulations.
HS Code 99040413 is used to classify and identify butter and cream with over 45% butterfat for import purposes. It is subject to a value safeguard period and has a bound or MFN duty rate of 38.4 cents per kilogram. Importers should also be aware of any special tariff preference programs and comply with the regulations of both the importing and exporting US states. By understanding and adhering to these regulations, importers can ensure smooth and compliant trade transactions of butter and cream.