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Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 99041217: An Extensive Guide to Peanuts and Trade

• Introduction
• Product Description
• Bound / MFN Duty Rate
• Quantity Unit
• Special Tariff Preference Programs
• Importing and Exporting US States

Introduction

Welcome to this comprehensive guide on HS Code 99041217. In this article, we will explore the intricacies of this specific HS code and delve into various aspects related to peanuts and international trade. Understanding the HS code system is crucial for importers, exporters, and anyone involved in global trade. So, let's get started!

Product Description

HS Code 99041217 represents peanuts, specifically referring to "other" varieties. These peanuts fall under the categories of 1202.20.80, 2008.11.35, and 2008.11.60. The inclusion of these specific codes helps to differentiate and classify the peanuts accurately during import and export processes. It's important to note that peanuts classified under this HS code are subject to specific regulations and requirements. One such requirement is that these peanuts must be entered during a value safeguard period and have a minimum value of $1 per kilogram or more.

Bound / MFN Duty Rate

The Bound / MFN (Most Favored Nation) duty rate refers to the tariff imposed on imported goods. It is applicable to all trading partners and is not subject to additional duties when a country lowers trade barriers or opens up its market. In the case of HS Code 99041217, the specific Bound / MFN duty rate may vary depending on various factors such as country-specific trade agreements, preferences, and international trade regulations. It is advisable for importers and exporters to thoroughly research and understand the specific duty rates applicable to HS Code 99041217 in their respective countries to ensure compliance and cost-effective trade operations.

Quantity Unit

The quantity unit for HS Code 99041217 is kilograms (KG). This unit of measurement is used to determine the weight of peanuts being imported or exported under this HS code. It is crucial to accurately record the quantity of peanuts to comply with trade regulations, calculate duties, and facilitate smooth customs procedures.

Special Tariff Preference Programs

Special tariff preference programs play a significant role in promoting international trade and fostering economic cooperation between countries. These programs aim to provide specific benefits, such as reduced or waived tariffs, to promote the import and export of certain goods. For HS Code 99041217, there may be special tariff preference programs available depending on the country of import or export. These programs can vary and may be influenced by factors such as regional trade agreements, bilateral agreements, and economic cooperation initiatives. Importers and exporters are encouraged to explore and utilize these programs to optimize trade operations and minimize costs.

Importing and Exporting US States

In the context of HS Code 99041217, it is essential to consider the importing and exporting US states. Peanuts classified under this HS code may have specific regulations or requirements when entering or leaving different US states. It is crucial to research and understand the specific state-level laws, permits, and certifications that may be necessary for trade operations involving peanuts. Furthermore, understanding the specific importing and exporting US states can help identify potential trade partners, logistics considerations, and market opportunities. Conducting market research and engaging with relevant stakeholders can provide valuable insights into the demand and supply dynamics within different US states. HS Code 99041217 encompasses peanuts classified under specific codes and regulations. This comprehensive guide has explored the product description, bound / MFN duty rate, quantity unit, special tariff preference programs, and the importance of considering importing and exporting US states. By understanding the nuances of this HS code, importers and exporters can navigate international trade successfully and maximize their business opportunities.

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