HS Code 99161740 refers to Oman goods in subheading 1806.10.15 and similar sugar-containing articles above note 10 limit. In this educational article, we will explore the details surrounding this HS code, including its product description, bound/MFN duty rate, quantity unit, and special tariff preference programs.
The product description for HS Code 99161740 specifically encompasses goods originating from Oman and falling under subheading 1806.10.15. Additionally, it includes sugar-containing articles that exceed the limit specified in note 10. This code serves as a classification system that allows for easy identification and categorization of these specific goods.
One crucial aspect of international trade is the bound/Most-Favored Nation (MFN) duty rate. When a country decides to lower a trade barrier or open up its market, it must do so for the same goods or services from all its trading partners. The bound/MFN duty rate is the maximum tariff rate a country can impose on a specific product. It provides stability and predictability for importers and exporters by ensuring that the duty rate remains constant.
The quantity unit for HS Code 99161740 is not specified in the available data. However, it is essential to note that quantity units can vary depending on the nature of the goods being traded. Common quantity units include kilograms (kg), liters (L), pieces (pcs), and meters (m), among others. The specific quantity unit for this HS code should be determined based on the particular goods being imported or exported.
HS Code 99161740 falls under the special tariff preference program of Free (PE). This indicates that specific trade agreements or arrangements exist between the importing country and Peru, providing preferential treatment in terms of tariffs. Under this program, goods classified under HS Code 99161740 can benefit from reduced or eliminated import duties, facilitating trade between the countries involved.
Unfortunately, the available data does not provide information about the specific importing and exporting US states related to HS Code 99161740. However, it is crucial to highlight that the United States plays a significant role in global trade, both as an importer and exporter. Different states within the US have varying levels of trade activities, and understanding the specific states involved can provide valuable insights into the dynamics of this particular HS code.
HS Code 99161740 pertains to Oman goods falling under subheading 1806.10.15 and sugar-containing articles exceeding the limit in note 10. This comprehensive guide has explored the product description, bound/MFN duty rate, quantity unit, special tariff preference programs, and the importance of understanding the importing and exporting US states related to this HS code. By familiarizing oneself with these details, importers, exporters, and trade professionals can navigate the international trade landscape more effectively.