Sugars, syrups, and molasses are essential commodities in the food and beverage industry. They are widely used as sweeteners and flavor enhancers in various products such as baked goods, beverages, and confectionery. The HS Code 99041701 specifically refers to these products, which are classified under the Harmonized System (HS) for international trade.
The product description for HS Code 99041701 states that it includes sugars, syrups, and molasses. These products fall under the subheading 1701.11.50, which further specifies the classification. The goods under this HS code are subject to a value safeguard period and are entered at a value of under $0.05 per kilogram (kg).
The bound / Most Favored Nation (MFN) duty rate for HS Code 99041701 is 12.9 cents per kilogram (kg). The MFN duty rate is the standard tariff rate applied to imports from all trading partners. It ensures that countries treat their trading partners equally by applying the same duty rate to the same goods or services.
Whenever a country lowers a trade barrier or opens up a market, it must do so for all its trading partners. This principle, known as the MFN principle, promotes fair and non-discriminatory trade practices. In the case of HS Code 99041701, the MFN duty rate remains constant at 12.9 cents per kg.
The quantity unit for HS Code 99041701 is kilograms (kg). Kilogram is a widely used unit of measurement for goods traded internationally. It provides a standardized measure for tracking and calculating the quantity of sugars, syrups, and molasses imported or exported under this HS code.
Special tariff preference programs are initiatives implemented by countries to promote trade and economic cooperation. These programs offer preferential treatment to certain products or countries, usually by reducing or eliminating import duties. While HS Code 99041701 does not specify any special tariff preference programs, it is important to note that various countries may have their own specific programs in place.
As an international trade code, HS Code 99041701 applies to both importing and exporting US states. The importing US states refer to those states that receive shipments of sugars, syrups, and molasses under this HS code. Similarly, the exporting US states are those states that produce and export these goods to other countries.
It is worth mentioning that the United States is a significant player in the global sugar industry. It both imports and exports substantial quantities of sugars, syrups, and molasses. The HS code provides a standardized framework for trade documentation and classification, facilitating smooth international trade operations.
HS Code 99041701 encompasses sugars, syrups, and molasses, which are traded internationally. This code ensures proper classification and documentation of these products, enabling accurate tracking and calculation of import and export quantities. Understanding the HS code and its associated regulations is crucial for businesses involved in the sugar industry and facilitates seamless global trade.