HS Code 40103460: Transmission V-belt of vulcanized rubber
Transmission V-belts are an essential component in various machinery and equipment, enabling the transfer of power between rotating shafts. These belts are made of vulcanized rubber, ensuring durability and flexibility in their performance. The specific HS code assigned to this product is 40103460.
The HS code system, also known as the Harmonized System, is an international standard for classifying traded products. It is used by customs authorities to identify and categorize goods for the purpose of levying tariffs, collecting trade statistics, and implementing trade policies.
The product description of HS Code 40103460 highlights several key characteristics of the transmission V-belt. Firstly, it is not a V-ribbed belt, meaning it does not have the additional grooves commonly found in certain applications. Secondly, the circumference of the belt falls within the range of exceeding 180 cm but not exceeding 240 cm. Lastly, it is specified that the belt is made solely of vulcanized rubber and does not incorporate any textile material.
When it comes to the tariff rates associated with HS Code 40103460, the bound or most-favored-nation (MFN) duty rate is set at 2.8%. This means that when a country reduces trade barriers or opens up its market, it must do so uniformly for all its trading partners concerning the same goods or services. This principle promotes fair and equal treatment among trading nations.
The unit of quantity for HS Code 40103460 is kilograms (KG). This measurement is used to determine the weight of the transmission V-belts being imported or exported.
Furthermore, there are special tariff preference programs applicable to this HS code. These programs provide certain countries with preferential treatment in terms of duty rates. For HS Code 40103460, the following countries enjoy duty-free treatment: Australia, Bahrain, Canada (under NAFTA), Chile, European Union (EU), Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and the United States (under the Caribbean Basin Initiative and Dominican Republic-Central American Special Rate).
In terms of trade flows, the United States imports HS Code 40103460 primarily from New Hampshire. On the other hand, the exporting states of this particular HS code include Arkansas, North Dakota, and North Dakota (yes, there are two instances of North Dakota).
HS Code 40103460 represents transmission V-belts made of vulcanized rubber, not V-ribbed, with a circumference exceeding 180 cm but not exceeding 240 cm, and without the presence of textile material. The bound duty rate for this HS code is 2.8%, ensuring equal treatment for all trading partners. The unit of quantity is kilograms (KG), and there are various special tariff preference programs that provide duty-free treatment for specific countries. The United States imports this product from New Hampshire and exports it from Arkansas and North Dakota.
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