HS Code 99040540 refers to butter substitutes with a butterfat content of over 45%. This code falls under the categories 0405.00.90, 2106.90.26, and 2106.90.36. The products classified under this code are subject to a value safeguard period, with an entry price range of $1 to $1.199 per kilogram.
When importing or exporting goods under this HS code, it is important to be aware of the bound or Most Favored Nation (MFN) duty rate. The duty rate for this product is set at 30.9 cents per kilogram. This means that every time a country reduces a trade barrier or opens up a market, it must apply the same tariff rate for the same goods or services from all its trading partners.
The quantity unit for this HS code is kilograms (KG). This provides a standardized measurement for trade and ensures consistency in the calculation of duties and taxes.
There are also special tariff preference programs that may apply to the import or export of products classified under HS Code 99040540. These programs aim to promote trade and economic development between certain countries or regions. It is important to be familiar with these programs and their specific requirements to take advantage of any potential benefits or exemptions.
Furthermore, when importing goods into the United States, it is essential to be aware of the specific requirements and regulations imposed by individual states. Different states may have their own restrictions, licensing requirements, or additional taxes. Similarly, when exporting from the United States, it is important to consider the regulations and requirements of the destination country.
HS Code 99040540 represents butter substitutes with a butterfat content of over 45%. It is important to understand the specific regulations, duty rates, and special tariff preference programs that apply to this code when engaging in international trade. By staying informed and compliant, businesses can navigate the complexities of global trade and maximize the benefits of importing or exporting under this HS code.