The HS Code 99040476 is a specific code assigned to dairy products falling under Chapter 4 of the Harmonized System (HS). This code signifies that the products are subject to additional regulations as outlined in the United States (US) note 1 of Chapter 4 and are further classified under subheading 2106.90.09.
One key aspect to note about this HS code is that it is entered in a value safeguard period, with the price range set between $0.90 and $1.199 per kilogram (kg). This means that any dairy products falling under this code must be traded within this price range to adhere to the regulations and restrictions in place.
When it comes to the import and export of dairy products categorized under the HS Code 99040476, it is crucial to consider the bound and Most Favored Nation (MFN) duty rates. The bound duty rate for these products is set at 53.8 cents per kg. The MFN duty rate, on the other hand, refers to the rate applied every time a country lowers a trade barrier or opens up a market. According to international trade regulations, any changes in trade barriers or market access must be implemented consistently for all trading partners.
For ease of measurement and consistency, the quantity unit for dairy products under this HS code is kilograms (kg). This ensures that the trade and pricing calculations are standardized across different countries and regions.
Additionally, there are special tariff preference programs that may apply to the import and export of dairy products under HS Code 99040476. These programs provide certain advantages, such as reduced or eliminated duty rates, to promote trade between specific countries or regions. It is essential for importers and exporters to familiarize themselves with these programs and determine whether they qualify for any preferential treatment.
When it comes to the importing and exporting of dairy products under HS Code 99040476, it is important to consider the specific regulations and requirements of both the importing and exporting US states. Each state may have its own set of rules and procedures governing the import and export of dairy products, and it is crucial to comply with these regulations to ensure a smooth and legal trade process.
the HS Code 99040476 plays a significant role in the trade of dairy products falling under Chapter 4. Understanding the implications of this code, including the value safeguard period, duty rates, quantity unit, and special tariff preference programs, is essential for importers and exporters in the dairy industry. By adhering to these regulations, businesses can ensure compliance and facilitate smooth trade operations.