Milk and cream, condensed or evaporated, fall under HS Code 99040510. This code is used to categorize and classify this specific product for international trade purposes. In this article, we will explore the details of this HS code and provide relevant information about the product it represents.
The product description for HS Code 99040510 is "Milk and cream, condensed or evaporated." This includes any milk or cream that has been condensed or evaporated to remove water content, resulting in a thicker and more concentrated product.
The specific subcategories within this HS code are 0402.99.45 and 0402.99.55. These subcategories further define the type of milk or cream being imported or exported. It is important to note that the product must be entered in value safeguard period and have a value range of $0.30-$0.399 per kilogram.
The bound / MFN duty rate for HS Code 99040510 is 31.6 cents per kilogram. The MFN (Most Favored Nation) duty rate is the rate applied to imports from all trading partners. This means that any country lowering a trade barrier or opening up a market must do so for the same goods or services from all its trading partners.
This duty rate is applicable each time the product is imported or exported, ensuring a consistent tariff for the specified product category.
The quantity unit for HS Code 99040510 is kilograms (KG). This means that the measurement and pricing of the product are based on kilograms. When importing or exporting milk and cream, condensed or evaporated, the quantity will be measured and recorded in kilograms.
There are several special tariff preference programs that may apply to HS Code 99040510, depending on the countries involved in the trade. These programs provide preferential treatment, such as lower or zero-duty rates, to certain products from specific countries.
Importing and exporting US states may have different special tariff preference programs in place for milk and cream, condensed or evaporated. It is important for importers and exporters to be aware of these programs and ensure compliance with the respective regulations.
Overall, HS Code 99040510 represents milk and cream, condensed or evaporated, in specific value safeguard period and price range. The bound / MFN duty rate ensures a consistent tariff for this product category, and the quantity unit is measured in kilograms. Importers and exporters should also consider the special tariff preference programs that may be applicable to their specific trade transactions.