Trade barriers and market openness play a significant role in international trade. When a country decides to lower a trade barrier or open up its market, it must apply the same rules to all its trading partners. This principle ensures fair and equal treatment for all countries involved.
One of the ways trade is regulated is through the use of Harmonized System (HS) codes. These codes classify goods and products for the purpose of international trade. In this article, we will explore the HS code 99140476, which pertains to BH goods in subheadings 0406.10.58, 0406.20.53, 0406.20.79, 0406.30.79, 0406.90.32, 0406.90.37, 0406.90.42, or 0406.90.68 over Note 8 TRQ.
HS code 99140476 is used to identify specific goods within the broader category of BH goods. These goods fall under various subheadings, each representing a specific type or variation of the product. The subheadings included are 0406.10.58, 0406.20.53, 0406.20.79, 0406.30.79, 0406.90.32, 0406.90.37, 0406.90.42, or 0406.90.68. The inclusion of "over Note 8 TRQ" indicates that these goods are subject to certain trade restrictions or quotas.
While the specific details of the BH goods in these subheadings are not provided, it is important to note that the HS code 99140476 is applicable to a range of products falling within these categories. The code serves as a tool for customs authorities, importers, and exporters to accurately classify and track these goods during international trade transactions.
When it comes to the bound / MFN (Most Favored Nation) duty rate, it refers to the duty rate that a country applies to imported goods. This rate remains consistent regardless of the country of origin. In the case of HS code 99140476, the bound / MFN duty rate is not specified in the available data. However, it is important to understand that duty rates can vary depending on the specific product and country involved in the trade.
As for the quantity unit, the data provided states that it is not available (NA). This indicates that the specific unit of measurement for the goods classified under HS code 99140476 is not provided or may vary depending on the product. Importers and exporters should consult the relevant trade documentation or contact customs authorities for accurate information regarding the quantity unit for their specific goods.
Special tariff preference programs can play a significant role in international trade, offering certain benefits and incentives to eligible countries or regions. In the case of HS code 99140476, the data states that there is a special rate of $1.28/kg for BH goods. This means that BH goods falling under the specified subheadings are eligible for a reduced tariff rate of $1.28 per kilogram when imported into the relevant country.
It is worth noting that the abbreviation "BH" represents Bahrain, indicating that this special rate applies specifically to imports from Bahrain. This demonstrates the importance of understanding the specific tariff preference programs and eligibility criteria that apply to different countries or regions.
Importing and exporting BH goods in subheadings 0406.10.58, 0406.20.53, 0406.20.79, 0406.30.79, 0406.90.32, 0406.90.37, 0406.90.42, or 0406.90.68 over Note 8 TRQ can involve various US states as both importers and exporters. The specific states involved will depend on the location of the importers and exporters engaging in trade under HS code 99140476.
HS code 99140476 is an important classification for BH goods falling under specific subheadings, subject to certain trade restrictions or quotas. Understanding the HS code system and its accompanying data, such as bound / MFN duty rates, quantity units, and special tariff preference programs, is crucial for importers, exporters, and customs authorities involved in international trade. By accurately classifying goods under the appropriate HS code, trade can be facilitated and regulated in a fair and transparent manner.