HS Code 99150453 refers to GT, NI or SV goods in subheading 2106.90.87 that are subject to U.S. note 8(b) limits. Understanding the significance of this HS code is crucial for businesses involved in international trade, as it helps in the smooth flow of goods across borders while ensuring compliance with trade regulations.
HS codes, also known as Harmonized System codes, are standardized numerical codes used to classify products for customs and international trade purposes. These codes are essential in facilitating trade by providing a common language that allows countries to identify and categorize goods consistently. HS Code 99150453 specifically pertains to certain goods from the countries GT (Guatemala), NI (Nicaragua), or SV (El Salvador) in the subheading 2106.90.87.
One key aspect related to HS Code 99150453 is the bound / MFN (Most Favored Nation) duty rate. This rate ensures 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 bound duty rate provides stability and predictability for traders, as it sets a maximum limit on the duty that can be imposed on imports.
The quantity unit for HS Code 99150453 is not available (NA) in the provided data. However, it is crucial to note that the quantity unit plays a significant role in determining the customs valuation and duty calculation for imported goods. The specific quantity unit associated with this HS code would be essential information for businesses engaged in international trade.
Moreover, HS Code 99150453 is eligible for special tariff preference programs. According to the provided data, the tariff preference for this code is 28.8 cents/kg plus 8.5%. This preference, known as the Dominican Republic-Central American Plus Rate (DR-CAFTA Plus), provides a reduced duty rate for eligible goods imported from the designated countries. Taking advantage of such special tariff programs can significantly benefit businesses by reducing import costs and increasing competitiveness in the market.
In terms of importing and exporting US states, the data does not provide specific details. However, it is crucial for businesses to consider the import and export requirements and regulations of both the originating and destination states. Each state may have unique trade policies, documentation requirements, and licensing procedures that need to be adhered to for successful cross-border trade.
HS Code 99150453 plays a vital role in international trade by classifying specific goods from GT, NI, or SV countries in subheading 2106.90.87. Understanding and correctly applying this HS code is essential for businesses involved in cross-border trade to ensure compliance with trade regulations, calculate appropriate duties, and take advantage of special tariff preference programs. Furthermore, being aware of the import and export requirements of the involved US states is crucial for a smooth and legally compliant trade operation.