HS Code 40121940: Retreaded Pneumatic Radial Tires, of Rubber, Not Elsewhere Specified or Included
Retreaded pneumatic radial tires are a specific type of tire that falls under HS Code 40121940. These tires are made of rubber and are not classified under any other HS code. In this article, we will explore the details of this HS code and provide information on importing and exporting these tires.
HS Code 40121940 refers to retreaded pneumatic radial tires made of rubber. These tires are specifically classified under this code and are not included in any other category. The code helps in identifying and classifying these tires for international trade purposes.
When it comes to the duty rate for importing these tires, a bound or most-favored-nation (MFN) duty rate of 4% applies. The MFN principle ensures that when 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. This means that the 4% duty rate is applicable regardless of the country of origin.
The quantity unit for these tires is measured in numbers (NO). This unit indicates the number of retreaded pneumatic radial tires being imported or exported.
There are also special tariff preference programs that provide certain countries with preferential treatment for importing these tires. Some of these programs include the Generalized System of Preferences (GSP), Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, and Singapore Special Rate. These programs offer duty-free treatment or special rates for importing these tires from specific countries.
In terms of importing these tires into the United States, the following states are known to import them: Alabama, Georgia, Illinois, Ohio, Oregon, Pennsylvania, South Carolina, Vermont, and the Virgin Islands. These states have a demand for retreaded pneumatic radial tires and regularly import them for various purposes.
On the other hand, for exporting these tires from the United States, South Carolina stands out as a significant exporting state. It has a notable presence in the export market for retreaded pneumatic radial tires.
HS Code 40121940 represents retreaded pneumatic radial tires made of rubber that are not included in any other category. The code helps in identifying and classifying these tires for international trade purposes. Importing these tires into the United States attracts a 4% duty rate, and there are special tariff preference programs available for certain countries. Importing and exporting of these tires are carried out by various states, with South Carolina being a prominent player in both import and export markets.
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