Milk and cream, condensed or evaporated, falls under the HS code 99040514. This code is used to classify and categorize products for international trade. In this article, we will explore the details of this HS code and provide more information about the product it represents.
The product description for HS code 99040514 is "Milk and cream, condensed or evaporated, in 0402.99.45 or 0402.99.55 entered in value safeguard period, $0.70-$0.799/kg." This description provides specific details about the type of milk and cream covered by this HS code.
When it comes to trade, countries often impose duties or tariffs on imported goods. The bound or Most Favored Nation (MFN) duty rate for HS code 99040514 is 10.3 cents/kg. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
The quantity unit for HS code 99040514 is kilograms (KG). This indicates that the measurement for the product is based on weight.
There are also special tariff preference programs that may be applicable to imports under HS code 99040514. These programs offer certain benefits or exemptions for eligible products. It is important for importers and exporters to be aware of these programs to take advantage of any potential cost savings or advantages.
When importing products under HS code 99040514 into the United States, it is important to consider the specific requirements and regulations of the importing US states. Different states may have their own rules and regulations regarding the importation of certain goods. It is important to adhere to these requirements to ensure smooth customs clearance and compliance with local laws.
Similarly, when exporting products under HS code 99040514 from the United States, it is crucial to be aware of the regulations and requirements of the destination country or state. Each country or state may have its own import regulations and customs procedures. Compliance with these regulations is essential to avoid any delays or penalties.
HS code 99040514 is used to classify milk and cream, condensed or evaporated, for international trade purposes. Understanding the details of this HS code, including the product description, duty rates, quantity unit, and special tariff preference programs, is important for importers and exporters. Additionally, being aware of the specific requirements of importing and exporting US states is crucial for smooth and compliant trade operations.