HS Code 99120742 refers to the classification of MA powder or flour in subheading 0712.90.40. This specific HS Code covers products with a weight of 13.25 kg or more but less than 21.2 kg, and falls under the TRQ (Tariff Rate Quota) note 10.
When importing or exporting goods, it is essential to accurately classify them using the Harmonized System (HS) codes. These codes are globally recognized and help facilitate international trade by providing a standardized method to identify and categorize different products. HS codes are used by customs authorities to determine the applicable duty rates, regulations, and trade policies for specific goods.
The description of the product covered by HS Code 99120742 is MA powder or flour. The subheading 0712.90.40 further specifies the exact type of product being traded.
Bound / MFN (Most Favored Nation) duty rates are an important aspect of international trade. These rates indicate the tariff that a country applies to imported goods from all its trading partners. It means that whenever 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. In the case of HS Code 99120742, the specific duty rate can vary depending on the country of import.
The quantity unit for this particular HS Code is not available (NA). This means that the unit of measurement for the product is not specified or is not applicable in this case.
There is a special tariff preference program applicable to HS Code 99120742, which offers a reduced duty rate. In this case, the program grants a tariff preference of 27.4% for imports from Morocco. This rate is known as the Morocco Special Rate and is only applicable when importing MA powder or flour from Morocco.
It is also important to consider the importing and exporting US states when dealing with international trade. The specific states involved in the import and export of HS Code 99120742 may vary depending on the trade partners and market dynamics.
HS Code 99120742 covers the classification of MA powder or flour in subheading 0712.90.40. Understanding and correctly using HS codes is crucial for international trade, as they determine the applicable duty rates, regulations, and trade policies for specific goods. The quantity unit for this HS Code is not available, and there is a special tariff preference program offering a reduced duty rate for imports from Morocco. Considering the importing and exporting US states is also important in the context of international trade.