When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying products. Each product is assigned a unique HS Code, which helps in streamlining customs procedures and collecting trade statistics. In this article, we will delve into the details of HS Code 99040511, specifically focusing on the product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 99040511 pertains to "Milk and cream, condensed or evaporated" that falls under specific subheadings within the broader category of 0402.99.45 or 0402.99.55. These subheadings refer to the value safeguard period, where the product enters the market at a price ranging from $0.40 to $0.499 per kilogram (KG).
Milk and cream, whether condensed or evaporated, are popular dairy products that undergo a process of removing water content, resulting in a thicker and more concentrated form. These products are widely used in culinary applications, such as desserts, sauces, and beverages.
The bound duty rate for HS Code 99040511 is set at 24.6 cents per kilogram (KG). The term "bound" signifies that this rate is the maximum rate a country can charge on imports of this specific product. On the other hand, MFN (Most Favored Nation) duty rate indicates the rate applied to imports from all trading partners.
It is important to note that when a country decides to lower a trade barrier or open up its market, it must do so for the same goods or services from all its trading partners. This principle promotes fair and non-discriminatory trade practices, ensuring equal treatment for all participating countries.
The quantity unit for HS Code 99040511 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported milk and cream, condensed or evaporated. Kilograms provide a standardized and internationally recognized metric for trade transactions, facilitating accurate quantity assessment and pricing.
Special tariff preference programs aim to promote trade between specific countries or regions by offering preferential treatment in terms of duty rates or exemptions. While HS Code 99040511 does not have any specific mention of such programs, it is essential to explore whether the product qualifies for any preferential treatment under various trade agreements.
For example, the United States has implemented several programs, such as the Generalized System of Preferences (GSP), Free Trade Agreements (FTA), and Special Trade Programs, which may provide reduced or zero-duty rates for certain products originating from eligible countries.
When it comes to importing milk and cream, condensed or evaporated with HS Code 99040511 into the United States, it is important to consider the regulations and requirements specific to each state. The importing process may vary depending on factors such as state-level inspections, labeling requirements, and additional certifications.
Similarly, exporting milk and cream, condensed or evaporated from the United States to other countries involves adhering to the destination country's customs regulations, import restrictions, and documentation requirements. It is crucial for exporters to familiarize themselves with these regulations to ensure seamless trade operations.
HS Code 99040511 represents milk and cream, condensed or evaporated, falling under specific subheadings within the broader category of 0402.99.45 or 0402.99.55. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS Code is vital for importers, exporters, and trade professionals involved in the dairy industry.