When it comes to international trade, it is essential to have a standardized system to classify products. This is where the Harmonized System (HS) code comes into play. The HS code acts as a universal language that helps identify and categorize products for import and export purposes. In this article, we will delve into the details of HS Code 99040594, which pertains to Edam & Gouda cheeses.
Product Description:
HS Code 99040594 is specifically assigned to Edam & Gouda cheeses. These cheeses can be classified under various subcategories, including 0406.10.48, 0406.20.48, 0406.20.75, 0406.30.48, 0406.30.75, and more. The HS code allows customs officials, traders, and statisticians to accurately identify and track these specific types of cheeses.
Bound / MFN Duty Rate:
The bound / MFN (Most Favored Nation) duty rate for HS Code 99040594 is 60.1 cents per kilogram (KG). The MFN principle ensures that any trade barrier reduction or market opening by a country must be applicable to all its trading partners. This principle promotes fair and equal treatment in international trade, preventing discriminatory practices.
Quantity Unit:
The quantity unit for HS Code 99040594 is kilograms (KG). This means that the import and export quantities of Edam & Gouda cheeses are measured and recorded in kilograms. It allows for standardized measurement and easy comparison of trade volumes.
Special Tariff Preference Programs:
In addition to the general duty rate, there might be special tariff preference programs applicable to HS Code 99040594. These programs are designed to promote trade and economic cooperation between certain countries. The specifics of these programs can vary, and it is crucial for importers and exporters to understand and utilize them effectively.
Importing and Exporting US States:
HS Code 99040594 applies to both importing and exporting US states. This means that Edam & Gouda cheeses falling under this HS code can be traded between different states within the United States. It enables smooth interstate commerce and contributes to the availability of these cheeses throughout the country.
HS Code 99040594 plays a vital role in identifying and categorizing Edam & Gouda cheeses for international trade. It helps customs officials, traders, and statisticians track the import and export volumes accurately. Understanding the specifics of the HS code, including the duty rate, quantity unit, and tariff preference programs, is essential for successful trade operations. By adhering to the standardized system, countries can ensure fair and equal treatment in global commerce.