Infant formula is a crucial product for the well-being and nutrition of infants who may not be able to breastfeed. In recent years, there has been a growing demand for infant formula that contains oligosaccharides, which are a type of carbohydrate that can provide numerous health benefits to infants.
Under the HS Code 99041902, infant formula containing oligosaccharides is classified. This specific HS code helps in the proper identification and classification of this product during international trade. It is essential for customs authorities and traders to correctly identify and use the HS code to ensure smooth import and export processes.
The HS code 99041902 includes two subheadings: 1901.10.30 and 1901.10.75. These subheadings further specify the type of infant formula containing oligosaccharides being traded. It is important for traders to accurately declare the subheading under which their product falls to comply with customs regulations.
When importing infant formula containing oligosaccharides under the HS code 99041902, it is crucial to be aware of the value safeguard period. The value safeguard period for this product is $0.65-$0.849 per kilogram. This means that the import value of the product should fall within this range to avoid any issues during customs clearance.
Furthermore, the bound / MFN (Most Favored Nation) duty rate for infant formula containing oligosaccharides under the HS code 99041902 is 64.2 cents per kilogram. The MFN duty rate is the rate applied to imports from all trading partners, ensuring fair and equal treatment for all countries involved in international trade.
It is worth noting that the bound / MFN duty rate may change if a country lowers a trade barrier or opens up a market. In such cases, the country must apply the same changes to the duty rate for the same goods or services from all its trading partners. This principle ensures transparency and fairness in international trade.
The quantity unit for infant formula containing oligosaccharides under the HS code 99041902 is kilograms (KG). This unit of measurement is used to determine the quantity of the product being traded, facilitating accurate customs declarations and calculations.
Special tariff preference programs may also apply to infant formula containing oligosaccharides under the HS code 99041902. These programs aim to promote trade between specific countries by providing preferential treatment in terms of duty rates or other trade-related benefits. Traders should explore these programs to take advantage of any available benefits.
the HS code 99041902 plays a vital role in the identification and classification of infant formula containing oligosaccharides during international trade. It helps customs authorities, traders, and other stakeholders to accurately declare, clear, and assess the product. Understanding the relevant subheadings, value safeguard period, duty rates, and quantity unit is essential for smooth and compliant trade operations.