Ice cream is a beloved treat enjoyed by people of all ages around the world. Its sweet and creamy texture makes it a popular dessert choice, especially during the warmer months. But have you ever wondered about the regulations and tariffs associated with importing ice cream? In this article, we will explore the HS Code 99042114, which specifically refers to ice cream imported into the United States.
HS Code 99042114 is the classification code assigned to ice cream under the Harmonized System (HS). The HS is an international standard for classifying traded products, enabling customs authorities to identify and levy appropriate duties and taxes on imports and exports. This code provides a standardized way of categorizing ice cream for trade purposes.
Ice cream falls under HS subheading 2105.00.20, which specifically refers to preparations containing milkfat, sugar, and flavorings. This subheading is further divided based on the value safeguard period, which is set at a range of $0.50-$0.599 per liter for ice cream imports.
When it comes to importing ice cream, countries often have specific tariffs in place to protect domestic industries or regulate trade. The bound or Most Favored Nation (MFN) duty rate for HS Code 99042114 is 8.2 cents per liter. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
It is important to note that the duty rate mentioned above is subject to change and may vary depending on trade agreements, special tariff preference programs, and other factors. These programs aim to promote trade between specific countries or regions, often by reducing or eliminating import duties on certain goods.
In the United States, ice cream imports are subject to various regulations and requirements. The importing state plays a crucial role in monitoring and overseeing the entry of ice cream into the country. Some of the major importing states for ice cream in the US include California, Texas, New York, Illinois, and Florida.
On the other hand, the exporting states in the US are responsible for producing and supplying ice cream to meet the demand of both domestic and international markets. Some of the leading exporting states for ice cream in the US include California, Pennsylvania, Texas, Wisconsin, and New York.
When it comes to quantity units, ice cream is typically measured in liters (L). This unit of measurement helps in accurately determining the volume of ice cream being imported or exported.
HS Code 99042114 is the classification code used for ice cream imports according to the Harmonized System. It provides a standardized way of categorizing ice cream for trade purposes, with specific subheadings and value safeguard periods. The bound duty rate for this HS code is 8.2 cents per liter, subject to change based on trade agreements and special tariff preference programs. Understanding the regulations and tariffs associated with ice cream imports is essential for businesses and individuals involved in the ice cream trade.