HS Code 99042010: Peanut Butter and Paste
Peanut butter and paste have become popular food products worldwide due to their delicious taste and numerous health benefits. In this article, we will explore the details of HS Code 99042010, which refers to peanut butter and paste imports and exports. We will discuss the product description, duty rate, quantity unit, and special tariff preference programs associated with this HS code.
Product Description
HS Code 99042010 pertains to peanut butter and paste. Peanut butter is a spread made from ground, dry-roasted peanuts, while peanut paste is a smooth and creamy blend of peanuts. These products are widely consumed as a spread on bread, used in baking, or added to various recipes to enhance flavor.
Quantity Unit
The quantity unit for HS Code 99042010 is kilograms (KG). This means that the measurement and trading of peanut butter and paste are done in terms of weight. Kilograms provide a standardized unit of measurement, ensuring consistency and accuracy in trade transactions.
Bound / MFN Duty Rate
The bound / MFN (Most Favored Nation) duty rate for HS Code 99042010 is 43.9%. This duty rate is applicable every time a country lowers a trade barrier or opens up its market. It ensures that the same goods or services from all trading partners are subject to the same duty rate. The MFN principle promotes fairness and non-discrimination in international trade.
Special Tariff Preference Programs
Special tariff preference programs are trade agreements or initiatives that allow certain countries to enjoy reduced or zero-duty rates for specific products. While HS Code 99042010 does not explicitly mention any special tariff preference programs, it is worth noting that different countries may have bilateral or regional trade agreements that affect the duty rates for peanut butter and paste imports and exports.
Importing and Exporting US States
The United States, being a major player in international trade, both imports and exports peanut butter and paste. The specific states involved in importing and exporting may vary based on market demand, production capabilities, and trade relationships. However, some key states that are likely to be involved in these activities include:
Importing US States:
- California
- Texas
- New York
- Florida
- Illinois
Exporting US States:
- Georgia
- Texas
- North Carolina
- Virginia
- Alabama
These states often have a strong agricultural sector that contributes to the production and processing of peanuts, making them key players in the import and export of peanut butter and paste.
HS Code 99042010 represents peanut butter and paste, which are widely consumed and traded globally. This article has provided an overview of the product description, duty rate, quantity unit, and mentioned the possibility of special tariff preference programs. Additionally, it highlighted some of the importing and exporting US states involved in the trade of peanut butter and paste.
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