The HS Code 99129509 refers to MA olives in subheading 2005.70.60, specifically whole pitted olives weighing over 0.3 kg and priced at $1.449/kg or less. This article will provide an extensive overview of this HS code, including relevant information and details.
HS codes are a standardized system for classifying and identifying traded products. They are used by customs authorities around the world to determine the appropriate tariffs, quotas, and regulations for specific goods. The HS code 99129509 is specifically assigned to MA olives in subheading 2005.70.60.
When importing or exporting goods, it is crucial to be aware of the bound or most-favored-nation (MFN) duty rates. These rates are applied every time a country lowers a trade barrier or opens up a market. The principle behind MFN is that a country must treat all its trading partners equally by applying the same duty rates to the same goods or services. Therefore, the duty rate for HS Code 99129509 will be the same for all trading partners.
The quantity unit for HS Code 99129509 is not available (NA). This means that the specific unit of measurement for this product is not specified or provided. It is important for importers and exporters to determine the quantity unit for accurate pricing and documentation.
There are also special tariff preference programs that can affect the duty rate for HS Code 99129509. In the case of MA olives, there is a special rate of 7.2 cents/kg on drained weight for imports from Morocco. This means that if the olives are imported from Morocco, the duty rate will be reduced by 7.2 cents per kilogram based on the drained weight of the olives.
When it comes to importing HS Code 99129509, it is essential to consider the specific regulations and requirements of the importing and exporting US states. Different states may have additional restrictions, certifications, or documentation needed for the importation of certain goods. It is crucial to research and comply with these state-specific regulations to ensure a smooth import process.
the HS Code 99129509 represents MA olives in subheading 2005.70.60, specifically whole pitted olives weighing over 0.3 kg and priced at $1.449/kg or less. Importers and exporters should be aware of the bound/MFN duty rates, the quantity unit, and any special tariff preference programs applicable to this HS code. Additionally, understanding the regulations of importing and exporting US states is crucial for a successful importation process.