HS Code 99041212 - Peanuts, other
Peanuts are a popular and nutritious snack enjoyed by people all over the world. With its unique taste and health benefits, it's no wonder that peanuts are in high demand. The HS Code 99041212 refers to a specific category of peanuts that fall under various product descriptions and are subject to specific regulations and tariffs.
Product Description:
- Peanuts falling under HS Code 99041212 are categorized as "other" peanuts.
- These peanuts are classified under several subheadings, including 1202.20.80, 2008.11.35, and 2008.11.60.
- These subheadings indicate different varieties or preparations of peanuts.
- The peanuts falling under this HS code have entered a value safeguard period and are priced between $0.50 and $0.599 per kilogram.
Bound / MFN Duty Rate:
- The bound / most-favored-nation (MFN) duty rate for peanuts under HS Code 99041212 is 18.3 cents per kilogram.
- Bound duty rates are the maximum tariff rates that a country can impose on imported goods.
- The MFN duty rate ensures that when a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
- This promotes fair and equal trade practices among countries.
Quantity Unit:
- The quantity unit for peanuts under HS Code 99041212 is kilograms (KG).
- This unit is used to measure the weight of the peanuts being imported or exported.
Special Tariff Preference Programs:
In addition to the bound / MFN duty rate, there may be special tariff preference programs available for peanuts under HS Code 99041212. These programs provide certain benefits or exemptions to eligible importers or exporters. Some examples of these programs include:
- Importing US States: Different states within the United States may have specific programs or incentives for importing peanuts. These programs could include reduced tariffs, tax incentives, or other benefits aimed at promoting trade and supporting local industries.
- Exporting US States: Similarly, exporting US states may also have programs in place to support the export of peanuts. These programs could include assistance with marketing, transportation, or financial incentives to encourage the export of peanuts to international markets.
Conclusion:
The HS Code 99041212 represents "other" peanuts falling under various subheadings. These peanuts are subject to a bound / MFN duty rate of 18.3 cents per kilogram. Importers and exporters of peanuts can also explore special tariff preference programs available in different US states to further benefit from trade opportunities. With its versatility and popularity, the peanut industry continues to thrive, contributing to both local and international markets.
More on HS code 99041212
