When it comes to international trade, the classification of goods is of utmost importance. The Harmonized System (HS) provides a standardized system for classifying goods traded across borders. Each product is assigned a unique HS code, which helps to streamline the customs and documentation processes.
The HS Code 99150475 refers to GT, NI or SV goods in subheading 2105.00.40 over U.S. Note 8(a) or 8(b) limits. Let's delve deeper into what this code entails and the implications it has on trade.
The product description associated with HS Code 99150475 is GT, NI or SV goods in subheading 2105.00.40. This subheading corresponds to a specific category of goods that fall under the broader classification of Chapter 21 - Miscellaneous edible preparations.
The inclusion of "GT, NI or SV" in the description indicates that the goods originate from Guatemala (GT), Nicaragua (NI), or El Salvador (SV). These countries have specific trade agreements or arrangements with the United States, which impact the import and export of goods.
Bound duty rate refers to the maximum tariff rate that a country can impose on imported goods. In the case of HS Code 99150475, the bound duty rate is determined based on the provisions of U.S. Note 8(a) or 8(b). These notes specify the maximum tariff rates applicable to certain goods imported from specific countries.
It is important to note that the bound duty rate applies to all trading partners equally. This means that whenever a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners.
The quantity unit for HS Code 99150475 is not available (NA). This indicates that the specific goods classified under this code may not be measured or traded based on a standardized quantity unit such as kilograms or liters.
For goods classified under HS Code 99150475, there is a special tariff preference program in place. The specific tariff rate is 50.2 cents per kilogram (kg) plus 17% ad valorem. This rate is applicable under the Dominican Republic-Central American Plus Rate (DR-CAFTA Plus) program.
The DR-CAFTA Plus program provides preferential tariff treatment to eligible goods traded between the United States and the participating countries in the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR). This program aims to promote trade and economic integration among the signatory nations.
HS Code 99150475 is relevant for trade involving specific importing and exporting U.S. states. The exact states involved in the import and export of goods classified under this code may vary depending on the specific trade transactions.
It is advisable for traders and businesses involved in the import or export of goods under HS Code 99150475 to be aware of the regulations and requirements specific to the importing and exporting U.S. states. This includes understanding any documentation, licensing, or certification requirements that may be applicable.
HS Code 99150475 represents GT, NI or SV goods in subheading 2105.00.40 over U.S. Note 8(a) or 8(b) limits. This code helps in the proper classification and identification of goods traded internationally. Understanding the implications of this HS code is crucial for businesses engaged in import and export activities involving the specified goods and countries.