HS Code 99041901 refers to a specific product category in international trade - infant formula containing oligosaccharides. This code is used to classify and identify the product for customs and statistical purposes. In this article, we will explore the details of this HS code, including its description, tariff rates, quantity unit, and special tariff preference programs.
Infant formula containing oligosaccharides falls under HS code 99041901. This code encompasses infant formulas that are fortified with oligosaccharides, which are complex carbohydrates that provide essential nutrients for infant growth and development. Oligosaccharides play a crucial role in promoting the growth of beneficial gut bacteria, strengthening the immune system, and improving digestion in infants.
The product is further classified into two subcategories based on its composition:
It is important for importers and exporters to correctly identify the HS code for their products to ensure smooth customs clearance and compliance with relevant regulations.
The bound / Most Favored Nation (MFN) duty rate for HS code 99041901 is 78.4 cents per kilogram (kg). The bound duty rate represents the maximum tariff rate that a country can impose on imports of a particular product. It is negotiated and agreed upon during international trade negotiations and is intended to provide predictability and stability for traders.
The MFN duty rate, on the other hand, is the tariff rate applied to all trading partners of a country without any discrimination. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The MFN principle is a fundamental rule of the World Trade Organization (WTO) and promotes fair and non-discriminatory trade practices.
Importers and exporters should be aware of the bound and MFN duty rates for HS code 99041901 to calculate the applicable tariffs and estimate the cost of their international trade transactions.
The quantity unit for HS code 99041901 is kilograms (kg). This unit of measurement is used to determine the weight or quantity of the infant formula containing oligosaccharides being imported or exported. It is essential to accurately report the quantity unit to ensure proper customs valuation and compliance with trade regulations.
There are various special tariff preference programs that may apply to imports or exports of infant formula containing oligosaccharides under HS code 99041901. These programs aim to promote trade, economic development, and cooperation between countries by providing preferential treatment or reduced tariffs for eligible products.
Importing US states and exporting US states may have specific programs in place to incentivize trade, such as free trade agreements, regional trade agreements, or preferential trade arrangements. Importers and exporters should consult the relevant authorities and trade agreements to determine if any special tariff preference programs apply to their transactions.
HS code 99041901 represents infant formula containing oligosaccharides, which play a vital role in infant nutrition and development. Understanding the details of this HS code, including its description, tariff rates, quantity unit, and special tariff preference programs, is essential for importers and exporters involved in the trade of infant formula. Compliance with customs regulations and proper classification of products under the correct HS code ensures smooth international trade operations.