HS Code 99041216: Peanuts, Other, in 1202.20.80, 2008.11.35 & 2008.11.60
Peanuts, a popular and nutritious snack, fall under the HS Code 99041216. This HS code is used to classify and categorize peanuts that are not specifically included in other HS codes related to peanuts. In this article, we will explore the product description, duty rates, quantity unit, and special tariff preference programs associated with HS Code 99041216.
Product Description:
Under HS Code 99041216, the product description refers to "Peanuts, Other." This means that it includes peanuts that do not fit into other specific HS codes related to peanuts. The peanuts categorized under this HS code are further classified into subheadings such as 1202.20.80, 2008.11.35, and 2008.11.60. These subheadings provide more detailed information about the type and quality of peanuts.
Value Safeguard Period:
It is important to note that the peanuts classified under HS Code 99041216 are subject to a value safeguard period. This means that their import value is within a specific range, ranging from $0.90 to $0.999 per kilogram (KG). This safeguard period ensures that the imported peanuts are within the specified value range, promoting fair trade practices.
Bound / MFN Duty Rate:
The bound / MFN (Most Favored Nation) duty rate for peanuts classified under HS Code 99041216 is 3.4 cents/kg. The duty rate is imposed on the import of these peanuts as a trade barrier. It is important to understand 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 duty rate helps regulate and maintain fair trade practices for peanuts under this HS code.
Quantity Unit:
The quantity unit for peanuts classified under HS Code 99041216 is kilograms (KG). This means that the weight of imported or exported peanuts is measured and calculated in kilograms. KG is a widely used unit for trading commodities, ensuring consistency and ease of measurement.
Special Tariff Preference Programs:
Regarding special tariff preference programs for peanuts under HS Code 99041216, it is necessary to gather additional information. These programs are designed to provide tariff advantages or preferences to certain countries or regions. These preferences can include lower or zero duty rates, encouraging trade and economic cooperation between countries.
Importing US States and Exporting US States:
When it comes to importing and exporting peanuts classified under HS Code 99041216, it is crucial to consider the specific US states involved in the trade. The importing US states refer to the states within the United States that receive these peanuts from other countries. On the other hand, the exporting US states are the states within the United States that export these peanuts to other countries. The choice of importing and exporting US states can affect the overall trade dynamics and quantities of peanuts under this HS code.
HS Code 99041216 classifies peanuts that do not fit into other specific HS codes related to peanuts. The product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code provide essential information for traders, importers, and exporters. Understanding and adhering to the regulations and requirements of HS Code 99041216 is crucial for smooth and fair trade practices in the peanut industry.
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