Sugars, syrups, and molasses fall under HS code 99041707. This code is used to classify and identify these specific products in international trade. In this article, we will explore the product description, duty rates, quantity units, and special tariff preference programs associated with HS code 99041707.
The HS code 99041707 refers to sugars, syrups, and molasses. These products are commonly used as sweeteners and flavor enhancers in various food and beverage industries. They are derived from sugarcane, sugar beets, or other sources of sugar. Sugars, syrups, and molasses that fall under this HS code are specifically classified under subheading 1701.11.50.
Subheading 1701.11.50 includes sugars, syrups, and molasses that have been entered in quantity safeguard period. This means that there may be certain restrictions or limitations on the importation or exportation of these products within a specified period.
The bound / MFN (Most Favored Nation) duty rate for HS code 99041707 is 11.3 cents per kilogram (KG). The MFN duty rate is the rate applied to a product when a country lowers a trade barrier or opens up a market. It is important to note that when a country makes changes to its trade policies, it must do so for the same goods or services from all its trading partners.
This duty rate applies to all imports and exports of sugars, syrups, and molasses classified under HS code 99041707. It is crucial for importers and exporters to consider this duty rate when calculating the cost of their shipments.
The quantity unit for HS code 99041707 is kilograms (KG). This means that the weight of sugars, syrups, and molasses is measured and recorded in kilograms. Importers and exporters should accurately determine and declare the weight of their shipments in kilograms to ensure compliance with customs regulations.
There are various special tariff preference programs available for importers and exporters of sugars, syrups, and molasses under HS code 99041707. These programs aim to promote trade, economic development, and cooperation between countries. Some of the special tariff preference programs that may be applicable to this HS code include:
Importing and exporting US states may also have their own specific tariff preference programs that offer additional benefits or exemptions for certain products. It is essential for businesses to research and understand the applicable special tariff preference programs to optimize their import and export operations.
HS code 99041707 classifies sugars, syrups, and molasses in international trade. Importers and exporters of these products should be aware of the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code. By understanding these aspects, businesses can effectively navigate the global market and optimize their trade operations.