When it comes to international trade, it is essential to have a standardized system that allows countries to classify and categorize various goods. One such system is the Harmonized System (HS), which assigns a unique code to each product for easy identification and classification. In this article, we will delve into HS Code 99040499, focusing on dairy products and its specific details.
HS Code 99040499 pertains to dairy products falling under Chapter 4 of the Harmonized System. These products are subject to additional regulations as per US Note 1 and are entered under code 2106.90.66 during the quantity safeguard period.
In simple terms, this HS code is used to identify and classify various dairy products imported or exported between countries. It ensures that the specific regulations and guidelines for such products are followed to maintain quality and safety standards.
The bound / MFN (Most-Favored Nation) duty rate for dairy products under HS Code 99040499 is 23.5 cents per kilogram (kg) plus an additional 2.8% of the product value. This means that whenever a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners.
This duty rate is applicable to all countries and helps maintain fairness and equal treatment in international trade. It ensures that no country receives preferential treatment in terms of duties and tariffs imposed on dairy products under this HS code.
The quantity unit for dairy products classified under HS Code 99040499 is kilograms (kg). This unit of measurement is used to determine the weight of the imported or exported dairy products. It allows for accurate calculation of duties, taxes, and other trade-related charges based on the weight of the goods.
As with many HS codes, HS Code 99040499 may also be eligible for special tariff preference programs. These programs provide certain benefits, such as reduced duty rates or exemptions, to specific countries or regions.
Importing US states and exporting US states play a crucial role in determining the eligibility of dairy products for such programs. The specific details and requirements for these programs may vary, and it is essential for importers and exporters to be aware of the applicable programs and their respective criteria.
HS Code 99040499 plays a vital role in the international trade of dairy products. It allows for the proper classification, identification, and regulation of these goods, ensuring that all involved parties adhere to the necessary guidelines and standards.
Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for importers, exporters, and other stakeholders involved in the dairy industry. By complying with these regulations, countries can foster fair and transparent trade practices, promoting the growth and development of the dairy sector on a global scale.