When it comes to international trade, having a clear understanding of the Harmonized System (HS) codes is essential. These codes are used to classify products and facilitate the smooth flow of goods between countries. In this article, we will delve into HS Code 99129514 and explore its significance in the context of MA olives in subheading 2005.70.60.
HS Code 99129514 corresponds to MA olives in subheading 2005.70.60. This particular code refers to whole pitted olives with a price of $1.404 per kilogram, or 93.6 cents per kilogram. Olives are a popular food item worldwide and are widely used in various culinary preparations.
The Bound / MFN (Most Favored Nation) duty rate is an important factor to consider when importing or exporting goods. It represents the tariff rate that a country applies to a specific product. In the case of HS Code 99129514, the duty rate may vary depending on the country.
It is worth noting 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. This principle ensures fair and equal treatment for all countries involved in international trade.
Unfortunately, the specific quantity unit for HS Code 99129514 is not available (NA). It is essential to have accurate quantity measurements when dealing with international trade to ensure proper documentation and pricing.
Special tariff preference programs can offer specific benefits to certain products or countries. In the case of HS Code 99129514, there is a special rate of 7.2 cents per kilogram on the drained weight of MA olives. This special rate applies to imports from Morocco.
Special tariff preference programs aim to promote trade and economic cooperation between countries. By offering favorable tariff rates, these programs encourage businesses to engage in cross-border transactions, fostering economic growth and development.
HS Code 99129514 is relevant for both importing and exporting US states. The specific states involved in the import and export of MA olives may vary depending on market demand and supply. However, it is important to note that the United States is a significant player in the global olive trade.
Some of the major importing states in the US include California, New York, and Texas. These states have a high demand for olives and their related products. On the other hand, states like California, Oregon, and Arizona are known for their olive production, making them key players in the export of olives.
HS Code 99129514 is crucial for the classification and trade of MA olives in subheading 2005.70.60. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with this code is essential for anyone involved in the international olive trade. By adhering to the regulations and guidelines outlined by HS Codes, businesses can ensure smooth and efficient cross-border transactions.