Milk and cream, condensed or evaporated, falls under HS Code 99040513. This code is used to classify and identify specific products for import and export 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 99040513 is "Milk and cream, condensed or evaporated, in 0402.99.45 or 0402.99.55 entered in value safeguard period, $0.60-$0.699/kg". This means that the milk and cream falling under this HS code are condensed or evaporated and are categorized under certain subheadings (0402.99.45 or 0402.99.55) within the broader classification of dairy products.
The value safeguard period indicates that these products are subject to specific regulations or measures to protect domestic industries or ensure fair competition. The price range for these products is between $0.60 and $0.699 per kilogram.
The bound / MFN (Most Favored Nation) duty rate for HS Code 99040513 is 14.5 cents per kilogram. This duty rate applies whenever a country lowers a trade barrier or opens up a market. It ensures that all trading partners receive the same treatment for goods or services in order to maintain fair and equal trade relationships.
The duty rate acts as a tax imposed on imported milk and cream falling under this HS code. Importers are required to pay this duty rate to the customs authorities of the importing country.
The quantity unit specified for HS Code 99040513 is kilograms (KG). This means that the weight of the milk and cream products being imported or exported is measured in kilograms. The quantity unit is essential for accurate pricing, inventory management, and logistics planning.
Special tariff preference programs are trade agreements or arrangements that offer reduced or exempted duty rates for specific goods or services. While specific programs may vary, they aim to promote international trade, economic cooperation, and development.
For HS Code 99040513, there may be special tariff preference programs in place that offer favorable duty rates or exemptions for the import or export of condensed or evaporated milk and cream. These programs can vary depending on the country of import or export.
When it comes to importing HS Code 99040513 into the United States, various states may have different regulations or requirements. It is essential for importers to familiarize themselves with the specific rules and procedures of the state where the goods will enter the country.
Similarly, for exporting HS Code 99040513 from the United States to other countries, exporters should be aware of the regulations and requirements of the destination country. This includes understanding any import restrictions, documentation, or labeling requirements that may apply.
HS Code 99040513 represents condensed or evaporated milk and cream. It is important for importers, exporters, and traders to be familiar with the details of this HS code, including the product description, duty rates, quantity unit, and any special tariff preference programs or regulations that may apply. By understanding and complying with these factors, businesses can ensure smooth and compliant international trade transactions for milk and cream products.