When it comes to international trade, the Harmonized System (HS) is an essential tool that helps classify products and facilitates the smooth exchange of goods between countries. Each product is assigned a unique HS code, which is a standardized numerical code used to identify specific goods. In this article, we will explore the HS code 99040467, which pertains to dairy products in Chapter 4 of the HS classification.
Dairy products play a crucial role in global trade, with a wide range of items falling under this category. The HS code 99040467 specifically covers dairy products classified under additional US note 1, as well as under codes 0404.90.50, 1901.90.43, 1901.90.47, and 2105.00.40. These products are subject to specific regulations and import/export procedures.
One important aspect to consider when dealing with HS codes and international trade is the concept of bound and Most Favored Nation (MFN) duty rates. The bound duty rate for HS code 99040467 is 66.7 cents per kilogram (kg). This means that when 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 99040467 is kilograms (kg). This unit of measurement is used to determine the weight of the dairy products being traded. It is important for importers and exporters to accurately measure and declare the quantity of goods to ensure compliance with customs regulations.
In addition to the general regulations and duty rates, there may be special tariff preference programs in place for certain countries or regions. These programs provide specific benefits or exemptions to encourage trade between participating nations. Importers and exporters dealing with HS code 99040467 should be aware of any such programs that may apply to their trade transactions.
When it comes to importing dairy products into the United States, different states may have their own specific regulations and requirements. It is important for businesses to familiarize themselves with the importing rules of the respective states they are dealing with. Similarly, when exporting dairy products from the United States, it is crucial to understand the regulations and requirements of the destination country.
HS code 99040467 encompasses a wide range of dairy products in Chapter 4 of the HS classification. Understanding the specific regulations, duty rates, and special tariff preference programs associated with this code is essential for businesses engaged in international trade. By adhering to these requirements, importers and exporters can ensure smooth and compliant trade transactions in the dairy industry.