When it comes to international trade, it is crucial to have a clear understanding of the Harmonized System (HS) codes. These codes are used to classify and identify different products that are traded across borders. In this article, we will delve into the details of HS Code 99040547, which refers to butter substitutes with a butterfat content of over 45%. This code falls under the categories of 2106.90.26 and 2106.90.36.
HS Code 99040547 is used to identify and track the import and export of butter substitutes with specific characteristics. It is important to note that this code is only applicable when these products are entered during the quantity safeguard period. This means that the trade of butter substitutes with over 45% butterfat is subject to certain restrictions and regulations during this period.
Bound / MFN duty rate for products classified under HS Code 99040547 is 66.5 cents per kilogram (KG). This duty rate applies every time a country lowers a trade barrier or opens up a market. The principle of most-favored-nation (MFN) treatment ensures that any trade benefits, such as reduced duty rates, are extended to all trading partners equally. Therefore, if a country decides to offer preferential treatment to a specific trading partner, it must also provide the same treatment to all other partners.
The quantity unit for products covered by HS Code 99040547 is kilograms (KG). This unit of measurement is used to determine the quantity of butter substitutes being imported or exported. It plays a crucial role in calculating duties, managing inventory, and tracking trade statistics.
Additionally, there are special tariff preference programs that may be applicable to imports and exports under HS Code 99040547. These programs provide certain benefits, such as reduced duty rates or exemptions, to eligible products and trading partners. It is important for importers and exporters to familiarize themselves with these programs to take advantage of any available benefits.
When it comes to the trade of butter substitutes with over 45% butterfat, it is essential to understand the regulations and requirements associated with HS Code 99040547. This code allows customs authorities and trade organizations to accurately classify and monitor these products, ensuring that they meet the necessary standards and comply with any applicable trade agreements.
HS Code 99040547 specifically identifies butter substitutes with a butterfat content of over 45%. It falls under the categories of 2106.90.26 and 2106.90.36 and is subject to the quantity safeguard period. Understanding this code is crucial for importers, exporters, and customs authorities to properly classify and track these products, ensuring compliance with trade regulations and taking advantage of any available tariff preference programs.