When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) Code is a globally recognized system that assigns unique codes to different products, making it easier for countries to track and regulate international trade. In this article, we will delve into the details of HS Code 99040496, which relates to dairy products in Chapter 4 of the HS Code.
HS Code 99040496 specifically refers to dairy products falling under Chapter 4 of the Harmonized System. These products are subject to additional regulations as specified in United States Note 1, and they are further classified under subheadings 1901.90.43 or 1904.90.47. It is important to note that these dairy products are entered during a quantity safeguard period.
The bound / most-favored-nation (MFN) duty rate for products classified under HS Code 99040496 is 34.5 cents per kilogram (KG), along with an additional 4.5% duty. It is worth mentioning that this duty rate may vary depending on the specific trade agreements and negotiations between countries.
Furthermore, it is crucial to understand that the MFN duty rate is subject to change whenever a country lowers its trade barriers or opens up its market. In such cases, the country is obligated to apply the same reduced duty rate for the same goods or services from all its trading partners. This principle ensures fair and equal treatment among trading nations.
The quantity unit for dairy products under HS Code 99040496 is measured in kilograms (KG). This unit of measurement helps in accurately determining the amount of goods being imported or exported.
Special tariff preference programs play a significant role in international trade by promoting economic growth and facilitating trade between countries. While specific details regarding the availability of such programs for HS Code 99040496 are not provided, it is advisable for importers and exporters to thoroughly research and inquire about any existing tariff preference programs that may offer benefits for this category of dairy products.
In the context of HS Code 99040496, it is essential to consider the importing and exporting US states. The United States is a major player in the global dairy industry, both as an importer and exporter. Different states within the US have varying levels of dairy production and consumption, making it crucial to understand the dynamics of each state when engaging in trade of dairy products under this HS Code.
Some of the prominent importing US states for dairy products include California, Wisconsin, New York, Texas, and Pennsylvania. These states have a high demand for dairy products and rely on imports to meet their domestic consumption needs.
On the other hand, exporting US states are those that have a surplus of dairy products and are actively engaged in international trade. States like California, Wisconsin, New York, and Texas are among the top exporters of dairy products, supplying the global market with their high-quality products.
HS Code 99040496 encompasses dairy products falling under Chapter 4 of the Harmonized System. This code provides a standardized classification for these products, making it easier for countries to regulate and monitor international trade. Understanding the specific regulations, duty rates, and quantity units associated with this HS Code is crucial for importers, exporters, and policymakers in the dairy industry.