Dairy products are an essential part of our diet and play a significant role in the agricultural and food industries. HS Code 99040495 refers to dairy products falling under Chapter 4 of the Harmonized System (HS) classification. This code is used to classify and track the import and export of specific goods, ensuring proper documentation and regulation.
HS Code 99040495 specifically includes dairy products under the additional US note 1, and the products are further classified under either 1901.20.15 or 1901.20.50. These subheadings provide more specific details about the type of dairy products being traded.
When importing or exporting dairy products under HS Code 99040495, it is essential to understand the associated regulations and duty rates. Currently, the bound or Most Favored Nation (MFN) duty rate for these products is 14.1 cents per kilogram (KG), along with an additional 2.8% for every time a country lowers a trade barrier or opens up a market. This principle ensures that all trading partners receive the same treatment when it comes to trade barriers and market access.
It is worth noting that the quantity unit for HS Code 99040495 is kilograms (KG). This unit is used to measure the weight of the imported or exported dairy products, providing a standardized metric for trade purposes.
Additionally, there are special tariff preference programs that may apply to dairy products under HS Code 99040495. These programs aim to promote trade and provide certain benefits or exemptions to specific countries or regions. Importing and exporting US states may have different regulations and requirements when it comes to these programs, and it is crucial to stay informed and comply with the relevant guidelines.
HS Code 99040495 plays a vital role in classifying and regulating the import and export of dairy products falling under Chapter 4 of the Harmonized System. It ensures proper documentation, facilitates trade, and sets duty rates based on international agreements. Understanding the regulations and requirements associated with this HS code is essential for businesses and individuals involved in the dairy industry.