The HS (Harmonized System) Code is an internationally recognized system used to classify and categorize goods in international trade. The HS Code 99150402 specifically refers to goods from Costa Rica (CR), Guatemala (GT), Honduras (HN), Nicaragua (NI), or El Salvador (SV) in subheadings 0401.30.25 or 0403.90.16, which are subject to U.S. note 5(b) limits.
When it comes to international trade, it is essential to have a standardized system for classifying goods. The HS Code provides a common language for customs officials, businesses, and other stakeholders to understand and regulate trade. It helps ensure that goods are classified correctly and enables the collection of accurate trade statistics.
The HS Code 99150402 is primarily concerned with goods related to the agricultural and food industry. Subheadings 0401.30.25 and 0403.90.16 specifically relate to certain types of food products. However, it is important to note that the full description of the goods falling under this HS Code may vary based on the specific subheading and country of origin.
One of the key aspects to consider when importing goods under the HS Code 99150402 is the bound/MFN (Most Favored Nation) duty rate. The bound duty rate refers to the maximum tariff rate that a country can impose on imported goods. It ensures that a country cannot raise its tariffs beyond this bound rate. The MFN duty rate, on the other hand, refers to the rate applied to goods from all trading partners. This means 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.
The quantity unit for goods falling under HS Code 99150402 is not available (NA). This means that the specific unit of measurement for these goods may vary depending on the nature of the product. It is crucial for importers and exporters to accurately determine the quantity of goods for customs declarations and trade documentation.
There are also special tariff preference programs applicable to goods under this HS Code. The tariff preference program for HS Code 99150402 is 77.2 cents per liter (P+). This specific rate applies to goods imported into the United States from the Dominican Republic-Central American Plus Rate (DR-CAFTA Plus). It provides a reduced tariff rate for eligible goods from this region, promoting trade and economic cooperation.
When it comes to importing goods under HS Code 99150402, it is essential to understand the specific requirements and regulations of the importing and exporting US states. Each state may have its own rules and regulations regarding the importation of goods, including licensing, permits, and additional taxes or fees. It is crucial to research and comply with the specific requirements of the states involved in the trade transaction.
the HS Code 99150402 is a specific code used to classify goods from Costa Rica, Guatemala, Honduras, Nicaragua, or El Salvador in subheadings 0401.30.25 or 0403.90.16, subject to U.S. note 5(b) limits. It is important for importers, exporters, and other stakeholders involved in international trade to understand the implications and regulations associated with this HS Code to ensure compliant and efficient trade.