When it comes to international trade, it is essential to have a standardized system to classify and identify different products. This is where the Harmonized System (HS) Code plays a crucial role. The HS Code is a globally recognized classification system used to classify and identify products for customs purposes.
The HS Code 99040417 specifically refers to butter and cream products with over 45% butterfat content. These products fall under the broader category of dairy products and are classified under multiple subheadings: 0401.30.75, 0403.90.78, and 0405.00.40.
One of the significant aspects of the HS Code is its ability to provide detailed information about the product. In the case of HS Code 99040417, it not only describes the product as butter and cream but also specifies the butterfat content, which is crucial for determining the quality and characteristics of the product.
Furthermore, the HS Code also provides information about the import conditions and regulations for the product. In the case of HS Code 99040417, the product has entered a value safeguard period, which means that there are certain restrictions or measures in place to protect domestic producers or regulate the import of the product. The value safeguard period for this product is set at $2-$2.199 per kilogram.
Another important aspect of the HS Code is the duty rate associated with the product. The duty rate is the amount of tax or tariff imposed on the imported product. For HS Code 99040417, the bound or Most Favored Nation (MFN) duty rate is 9 cents per kilogram. This means that regardless of the country of origin, the same duty rate applies to all trading partners.
Additionally, the HS Code also provides information about the quantity unit for the product, which is kilograms (KG) in the case of HS Code 99040417. This unit of measurement is essential for determining the quantity of the product being imported or exported.
Special tariff preference programs are another aspect related to the HS Code. These programs provide certain benefits or preferences to specific products, countries, or regions. However, there is no specific information available regarding any special tariff preference programs for HS Code 99040417.
the HS Code 99040417 refers to butter and cream products with over 45% butterfat content. This code provides detailed information about the product, including its classification, import conditions, duty rate, and quantity unit. Understanding the HS Code is crucial for importers, exporters, and customs authorities to ensure seamless international trade.