Milk and cream, condensed or evaporated, falls under HS Code 99040506. This code is specifically used for this product when it is entered in value safeguard period and the price range is between $0.30 and $0.399 per kilogram.
When importing or exporting this product, it is important to understand the various aspects related to its classification and duty rates. Let's explore more about HS Code 99040506 and its implications.
Milk and cream, condensed or evaporated, is a processed dairy product that undergoes a specific manufacturing process. It is categorized under HS Code 99040506, which is further classified into sub-codes such as 0402.91.70 or 0402.91.90. These sub-codes help in providing more specific details about the product.
The value safeguard period indicates a specific time frame during which the product is subject to certain restrictions or regulations. In the case of HS Code 99040506, the product must fall within the price range of $0.30 to $0.399 per kilogram to qualify for this safeguard period.
The Bound / MFN (Most Favored Nation) duty rate for HS Code 99040506 is 7.8 cents per kilogram. This rate is applicable every time a country lowers a trade barrier or opens up a market. It ensures that any changes made in trade policies are applied uniformly to all trading partners.
It is important for importers and exporters to consider this duty rate while engaging in international trade involving milk and cream, condensed or evaporated. The duty rate may vary depending on the country or region of import/export, so it is crucial to stay updated with the latest regulations and tariff schedules.
The quantity unit for HS Code 99040506 is kilograms (KG). This unit of measurement is used to quantify the weight or quantity of milk and cream, condensed or evaporated being imported or exported. It is important to accurately declare the quantity unit to ensure compliance with trade regulations.
HS Code 99040506 may also be eligible for special tariff preference programs. These programs provide specific benefits or concessions to importers or exporters based on certain criteria. The availability of such programs depends on the trade agreements or arrangements between countries.
Importing and exporting US states may have specific requirements or preferences when it comes to HS Code 99040506. It is advisable to research and understand these state-specific regulations to ensure smooth trade operations.
HS Code 99040506 is used for milk and cream, condensed or evaporated, entered in value safeguard period within the price range of $0.30 to $0.399 per kilogram. Understanding the product description, duty rates, quantity unit, and special tariff preference programs is essential for successful international trade involving this product.