The HS Code 99129520 refers to the product description of MA Olives in subheading 2005.70.60. Specifically, it pertains to sliced olives that have a value equal to or greater than $1.611 per kilogram. This HS code is used for the classification and identification of goods in international trade.
When it comes to international trade, it is essential to have standardized codes like the HS code. These codes enable customs authorities and traders to easily identify and classify products, ensuring smooth and efficient trade processes.
One important aspect of international trade is the bound or most-favored-nation (MFN) duty rate. This refers to the rate at which a country imposes import duties on a particular product. It is important to note 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 promotes fair and non-discriminatory trade practices.
The quantity unit for the product described by HS Code 99129520 is not available (NA). This means that the specific unit of measurement for the product is not specified or relevant in this case.
Furthermore, there are special tariff preference programs applicable to this product. Specifically, there is a tariff preference of 6 cents per kilogram on drained weight for imports from Morocco. This special rate aims to promote trade between the importing country and Morocco, providing certain advantages to Moroccan olives in the market.
It is important to note that the import and export of products classified under HS Code 99129520 can involve various US states. The specific importing and exporting US states may vary depending on the trade agreements, market demand, and supply chain dynamics.
HS Code 99129520 represents MA Olives in subheading 2005.70.60, specifically sliced olives valued at $1.611 per kilogram or higher. This code plays a crucial role in international trade, facilitating the identification, classification, and regulation of goods. It also highlights the importance of fair trade practices, such as the bound or MFN duty rate, and special tariff preference programs that can affect imports and exports between countries.