Dairy products play a crucial role in the global food industry, providing essential nutrients and delicious flavors to people all around the world. The harmonized system (HS) code 99040480 is specifically designed to classify dairy products falling under Chapter 4 of the HS code system. In this article, we will explore the details of this HS code, its product description, duty rates, quantity units, and special tariff preference programs.
The HS code 99040480 refers to dairy products falling under Chapter 4 of the harmonized system. These products are further described as "Dairy prod. in Ch. 4 addl US note 1, in 2106.90.09, entered in value safeguard period, $2.10-$2.299/kg". This description provides specific details about the origin, classification, and value of the dairy products.
The inclusion of "Ch. 4 addl US note 1" indicates that the dairy products belong to Chapter 4 of the harmonized system, which specifically covers milk and dairy products. Additionally, these products fall under the subheading 2106.90.09, which further classifies them within the broader category of dairy preparations.
Furthermore, the mention of the "value safeguard period" suggests that there are certain protective measures in place to ensure fair trade practices and prevent the undervaluation of these dairy products. The price range of $2.10-$2.299/kg indicates the expected value of these products per kilogram.
The bound duty rate for HS code 99040480 is 9.8 cents/kg. The term "bound" refers to the maximum duty rate that a country can impose on imported goods under the rules of the World Trade Organization (WTO). On the other hand, the Most Favored Nation (MFN) duty rate is the standard duty rate applied to imports from all trading partners.
The principle of MFN treatment ensures 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. This principle promotes fairness and equal treatment among trading nations.
The quantity unit for HS code 99040480 is kilograms (KG). This unit of measurement is used to determine the weight of the dairy products being imported or exported. Kilograms provide a standardized and universally recognized metric for trading purposes, ensuring accurate measurement and transparency in international trade.
In addition to the general duty rates, certain countries may have special tariff preference programs in place for specific goods, including dairy products falling under HS code 99040480. These programs aim to promote trade, economic cooperation, and development between participating countries.
Importing US states and exporting US states are actively involved in such programs, which may include free trade agreements (FTAs) or preferential trade arrangements. These programs provide benefits such as reduced or zero-duty rates, streamlined customs procedures, and market access opportunities to eligible participants.
It is important for importers and exporters of dairy products falling under HS code 99040480 to stay updated with the latest information on special tariff preference programs. This will enable them to take full advantage of the benefits offered by these programs, enhancing their competitiveness and profitability in the global dairy market.
HS code 99040480 plays a significant role in classifying and regulating the import and export of dairy products falling under Chapter 4 of the harmonized system. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for businesses and individuals involved in the dairy industry. By staying informed and compliant with the relevant regulations, stakeholders can successfully navigate the global dairy market and contribute to its growth and sustainability.