The HS Code 99040492 refers to dairy products in Chapter 4, specifically those mentioned in additional US note 1 and entered in either 1806.32.70 or 1806.90.08 during the quantity safeguard period. In this article, we will explore the details of this HS code and provide valuable information about the product description, duty rates, quantity units, and special tariff preference programs.
The product description covered under HS Code 99040492 includes various dairy products falling under Chapter 4 of the Harmonized System. Chapter 4 of the HS Code is dedicated to milk and dairy products, which are essential commodities in the global market. These products can range from milk and cream to cheese, butter, and yogurt. The specific products included under this HS code are further defined in additional US note 1.
When importing dairy products under HS Code 99040492, the bound (maximum) duty rate is 12.4 cents per kilogram (KG). Additionally, there is a 2% duty rate increase every time a country lowers a trade barrier or opens up a market. This provision ensures that any trade advantages or concessions offered to one trading partner must be extended to all trading partners for the same goods or services.
The quantity unit for dairy products imported under HS Code 99040492 is kilograms (KG). This means that the weight of the products will be measured in kilograms for the purpose of customs clearance and duty calculation. It is important for importers and exporters to accurately declare the quantity in kilograms to ensure compliance with customs regulations.
HS Code 99040492 may also be eligible for special tariff preference programs, depending on the importing and exporting US states. These programs aim to promote trade and provide certain benefits to importers and exporters. The specific programs and their requirements may vary, so it is essential to consult the relevant trade agreements and regulations to determine the eligibility and benefits for each state.
These are just a few examples of the states that may be involved in the import and export of dairy products under HS Code 99040492. It is crucial for businesses to understand the specific requirements and benefits associated with each state in order to make informed decisions and maximize their trade opportunities.
HS Code 99040492 covers dairy products in Chapter 4, as defined in additional US note 1 and entered in specific subheadings during the quantity safeguard period. Importers and exporters should be aware of the duty rates, quantity units, and potential special tariff preference programs applicable to this HS code. By staying informed and complying with the relevant regulations, businesses can navigate the international trade of dairy products more effectively and seize opportunities for growth and success.