Milk and cream, condensed or evaporated, falls under the HS Code 99040515. This article will provide an educational overview of this product, including its description, tariff rates, and special tariff preference programs. We will also discuss the importing and exporting of this product among various US states.
The product classified under HS Code 99040515 refers to milk and cream that has been condensed or evaporated. This includes both dairy products that are in 0402.99.45 or 0402.99.55 HS codes and entered in the value safeguard period. The value safeguard period specifies a range of $0.80-$0.899 per kilogram for the product.
The bound duty rate for milk and cream, condensed or evaporated, under HS Code 99040515 is 7.3 cents per kilogram. The Most Favored Nation (MFN) duty rate is the rate applied to all trading partners equally. 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 milk and cream, condensed or evaporated, is kilograms (KG). This unit of measurement is used to determine the weight of the product being imported or exported.
There are various special tariff preference programs that may apply to milk and cream, condensed or evaporated, under HS Code 99040515. These programs offer reduced or zero-duty rates for eligible products, promoting trade between specific countries or regions.
It is important for importers and exporters to be aware of these special tariff preference programs to take advantage of any potential cost savings or market access opportunities.
Milk and cream, condensed or evaporated, classified under HS Code 99040515 can be imported and exported among different US states. The specific regulations and procedures for inter-state trade may vary, and it is essential for businesses to comply with relevant state laws and requirements.
When importing or exporting this product, it is crucial to properly classify it under the correct HS Code, such as 99040515. This ensures accurate reporting, appropriate duty rates, and compliance with customs regulations.
milk and cream, condensed or evaporated, is an important product classified under HS Code 99040515. Understanding the product description, tariff rates, special tariff preference programs, and regulations for importing and exporting is essential for businesses involved in the trade of this product.