HS Code 99041215 represents peanuts and their derivatives being imported and exported globally. In this article, we will delve into the details of this HS code, exploring the product description, duty rates, quantity units, and special tariff preference programs associated with it.
Peanuts falling under HS Code 99041215 are categorized as "other" peanuts. They are further classified under subheadings 1202.20.80, 2008.11.35, and 2008.11.60. The value safeguard period for these peanuts is specified, with the price range set at $0.80-$0.899 per kilogram (KG).
The bound / MFN (Most Favored Nation) duty rate for peanuts under HS Code 99041215 is 6.4 cents per kilogram (KG). This duty rate is applicable every time a country lowers a trade barrier or opens up a market. It ensures that any trade barrier reductions or market openings must be extended to all trading partners for the same goods or services.
The quantity unit for peanuts under HS Code 99041215 is kilograms (KG). This unit is commonly used worldwide to measure the weight of goods in international trade. It provides a standardized measure for accurate trade documentation and transactions.
Special tariff preference programs may be available for peanuts imported or exported under HS Code 99041215. These programs aim to promote trade, economic growth, and cooperation between countries. Examples of such programs include free trade agreements (FTAs) and preferential trade agreements (PTAs). The specific programs applicable to peanuts may vary depending on the countries involved in the trade.
HS Code 99041215 covers peanuts being imported and exported by various US states. The specific states involved in the trade may vary depending on market demand, agricultural production, and international trade relationships. Some of the major peanut-producing states in the US include Georgia, Texas, Alabama, Florida, and North Carolina.
HS Code 99041215 plays a crucial role in regulating the import and export of peanuts worldwide. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code is essential for businesses and individuals involved in the peanut trade. By adhering to these regulations and taking advantage of applicable tariff preference programs, stakeholders can ensure smooth and profitable international trade transactions.