In the world of international trade, HS codes play a crucial role in classifying products for customs and regulatory purposes. Each product is assigned a unique HS code that helps identify its specific characteristics and attributes. In this article, we will delve into the details of HS Code 99150496 and understand its significance in the trade landscape.
HS Code 99150496 refers to DR-CAFTA member goods falling under the following subcategories: 0406.10.68, 0406.20.83, 0406.30.53, 0406.30.83, or 0406.90.92. These codes indicate specific types of products within the broader category of goods. It is important to note that these goods are subject to certain limits specified under note 10(a) or 10(b).
When a country decides to lower a trade barrier or open up a market, it is obligated to apply the same treatment to all its trading partners for the same goods or services. This principle, known as the Most Favored Nation (MFN) principle, ensures fair and equal treatment in international trade. The bound duty rate for products falling under HS Code 99150496 is determined based on this principle.
Unfortunately, the specific quantity unit for products classified under HS Code 99150496 is not available (NA). The absence of a quantity unit indicates that the classification is not based on a specific measure of quantity but rather on the nature and characteristics of the goods.
For products falling under HS Code 99150496, there is a special tariff preference program in place. The rate is set at $1.386/kg under the Dominican Republic-Central American Plus Rate (DR-CAFTA Plus). This program aims to promote trade and economic cooperation among the member countries by providing preferential treatment to eligible goods.
HS Code 99150496 is relevant for both importing and exporting US states. It indicates that goods falling under this code can be traded between different states within the United States. The code serves as a reference point for customs authorities and traders to ensure compliance with regulations and facilitate smooth trade.
HS Code 99150496 plays a crucial role in classifying and regulating the trade of specific goods. It provides valuable information about the product, its duty rates, quantity unit (if available), and any special tariff preference programs in place. Understanding and correctly applying HS codes is essential for businesses engaged in international trade to ensure compliance and facilitate efficient cross-border transactions.