The HS Code 99170412 refers to a specific product description related to Peru goods in subheadings 0402.99.45 and 0402.99.55, which are subject to the US Note 3(b) limit. In this article, we will delve into the details of this HS code and explore its implications.
HS codes, also known as Harmonized System codes, are standardized international codes used to classify and define goods for import and export purposes. These codes help streamline international trade and ensure uniformity in customs procedures across different countries.
The product description associated with the HS Code 99170412 pertains to Peru goods falling under the subheadings 0402.99.45 and 0402.99.55. These subheadings refer to specific types of products within the broader category of goods.
0402.99.45: This subheading represents a particular type of product related to Peru, which falls under the broader category of goods. The HS code provides a standardized classification for this specific product, allowing for easy identification and tracking during international trade.
0402.99.55: Similar to subheading 0402.99.45, this subheading also denotes a specific type of product associated with Peru. The HS code ensures that this product is categorized appropriately and subject to relevant regulations and trade policies.
The bound / MFN (Most Favored Nation) duty rate is an important aspect of international trade. It signifies that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
In the context of HS Code 99170412, the bound / MFN duty rate is the rate applied to the products falling under subheadings 0402.99.45 and 0402.99.55 from Peru. This rate ensures fair and equitable treatment for all trading partners, promoting transparency and non-discriminatory trade practices.
The quantity unit associated with HS Code 99170412 is not specified in the provided data. The absence of a specific quantity unit suggests that the product description may not be directly tied to a specific measurement or quantity.
HS Code 99170412 is eligible for a special tariff preference program known as Free (PE). This program provides specific benefits and incentives for the importation of goods falling under this HS code from Peru.
Peru Special Rate: As part of the Free (PE) tariff preference program, the Peru Special Rate allows for duty-free importation of goods associated with HS Code 99170412 from Peru. This special rate aims to promote trade and economic cooperation between the United States and Peru.
HS Code 99170412 is relevant for both importing and exporting US states. The code applies to goods being imported into the United States from Peru and goods being exported from the United States to Peru.
This means that the HS code is crucial for customs authorities, traders, and businesses involved in the import and export of goods associated with subheadings 0402.99.45 and 0402.99.55 between Peru and the United States.
HS Code 99170412 plays a significant role in the classification and regulation of Peru goods falling under subheadings 0402.99.45 and 0402.99.55. It helps facilitate international trade, ensures fair treatment for all trading partners, and provides specific benefits under the Free (PE) tariff preference program. Understanding and adhering to this HS code is essential for businesses and individuals involved in import and export activities between Peru and the United States.