HS Code 99040418: A Comprehensive Guide to Butter & Cream Imports

When it comes to international trade, the Harmonized System (HS) codes play a crucial role in classifying and categorizing different products. In this article, we will delve into the details of HS Code 99040418, which specifically pertains to Butter & Cream with over 45% butterfat.

Understanding HS Code 99040418

HS Code 99040418 specifically refers to Butter & Cream products that contain over 45% butterfat. These products fall under the broader categories of 0401.30.75, 0403.90.78, and 0405.00.40. It is important to note that the HS code helps customs authorities identify and classify these products for import and export purposes.

Value Safeguard Period and Pricing

The products falling under HS Code 99040418 are subject to a value safeguard period. During this period, the importers must adhere to a specific price range, which is currently set at $2.20-$2.399 per kilogram (KG). This ensures that the market remains stable and prevents any unfair pricing practices.

Bound / MFN Duty Rate

The bound / most-favored-nation (MFN) duty rate for products classified under HS Code 99040418 is set at 3 cents per kilogram (KG). This means that regardless of the country of origin, a standard duty rate is applied to these goods when imported. The MFN principle ensures that trade barriers are lowered or markets are opened up uniformly for all trading partners.

Quantity Unit: Kilograms (KG)

HS Code 99040418 is measured in kilograms (KG). This quantity unit provides a standardized measurement for the import and export of Butter & Cream products. It helps in accurately determining the volume and weight of the goods being traded.

Special Tariff Preference Programs

There are various special tariff preference programs available for importers and exporters dealing with HS Code 99040418. These programs aim to promote trade and provide certain benefits to eligible participants. Some of the popular programs include:

Generalized System of Preferences (GSP): This program offers reduced or zero-duty rates for products imported from developing countries.
Free Trade Agreements (FTA): Countries that have signed free trade agreements with the importing or exporting nations can benefit from preferential tariff rates.
Special Economic Zones (SEZ): These designated zones offer various incentives, such as tax breaks and streamlined customs procedures, to promote trade and attract foreign investment.

Importing and Exporting US States

HS Code 99040418 facilitates the import and export of Butter & Cream products between different US states. Importing US states can source these products from exporting US states to meet the demand of their local markets. This inter-state trade plays a significant role in ensuring a steady supply of quality Butter & Cream products across the country.

HS Code 99040418 is a vital classification for Butter & Cream products with over 45% butterfat. It helps in streamlining international trade, ensuring fair pricing, and enabling the smooth movement of goods between countries. Understanding the intricacies of this HS code is essential for importers, exporters, and customs authorities to facilitate efficient trade practices.