In this educational article, we will explore the HS Code 99042307, which corresponds to animal feed containing milk or milk derivatives. This code is categorized under 2309.90.28 and 2309.90.48. Let's delve into the details of this product and its implications in international trade.
HS Code 99042307 represents animal feed that contains milk or milk derivatives. This code is used to classify and identify this specific type of product in international trade. Animal feed is essential for the nutrition and well-being of livestock, and the inclusion of milk or milk derivatives enhances the nutritional value of the feed.
Animal feed plays a crucial role in the agricultural sector, as it ensures the proper growth and development of livestock, which in turn contributes to the production of various food products like meat, milk, and eggs. The inclusion of milk or milk derivatives in animal feed provides additional protein, vitamins, and minerals, thereby improving the overall quality of the feed and the animals' health.
The animal feed classified under HS Code 99042307 is subject to a value safeguard period. This period implies that the product's import value falls within a specific price range, which is set between $0.75 and $0.849 per kilogram. Importers must ensure that the declared value of the product falls within this range to comply with the regulations.
For HS Code 99042307, the bound / MFN (Most Favored Nation) duty rate is set at 2.3 cents per kilogram. This duty rate is applicable every time a country lowers a trade barrier or opens up a market. It follows the principle of non-discrimination, which means that when a country reduces tariffs or other trade barriers for a particular product, it must do so for all its trading partners.
The bound / MFN duty rate helps promote fair trade practices and ensures that countries do not discriminate against specific trading partners. This principle fosters a level playing field for all participants in international trade and encourages mutual benefits.
HS Code 99042307 is denoted in terms of the quantity unit kilogram (KG). This unit signifies the weight or mass of the animal feed being imported or exported. Kilograms provide a standardized measurement system that allows for accurate calculation and comparison of quantities across different countries and trading partners.
Special tariff preference programs are designed to provide certain benefits and incentives for the import and export of specific products. While not specifically mentioned for HS Code 99042307, it is essential to be aware of any applicable special tariff preference programs that may exist for animal feed or related products.
These programs can include preferential duty rates, exemptions, or reduced tariffs for eligible countries or trading partners. Importers and exporters of animal feed containing milk or milk derivatives should investigate and explore the availability of any special tariff preference programs that could potentially reduce costs and provide a competitive advantage.
HS Code 99042307 applies to both importing and exporting US states. This means that animal feed containing milk or milk derivatives classified under this code can be imported into or exported from any state within the United States.
It is crucial for businesses and traders involved in the import and export of animal feed to be aware of the specific regulations and requirements imposed by individual US states. Compliance with state-specific regulations ensures smooth trade operations and avoids any potential legal or administrative complications.
HS Code 99042307 represents animal feed containing milk or milk derivatives. This code plays a vital role in international trade by classifying and identifying this specific product. Importers and exporters must adhere to the value safeguard period and the bound / MFN duty rate associated with this HS Code. Understanding the quantity unit, special tariff preference programs, and state-specific regulations is essential for a successful trade involving animal feed.