When it comes to international trade, various codes and classifications are used to categorize products for a better understanding and regulation of imports and exports. One such code is the HS Code, which stands for Harmonized System Code. In this article, we will explore HS Code 40122080, which refers to used pneumatic tires made of rubber for machinery, not elsewhere specified.
The HS Code 40122080 specifically identifies a particular category of products in the field of international trade. It enables customs authorities and traders to classify goods accurately and determine the applicable customs duties and regulations.
The product description for HS Code 40122080 is "Used pneumatic tires, of rubber for machinery, nesoi." This means that the code applies to used rubber tires that are specifically designed for machinery purposes and cannot be classified under any other specific category.
Bound / MFN duty rate for HS Code 40122080 is free. This means 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. Therefore, no duty is imposed on the import of used pneumatic tires falling under this HS Code.
The quantity unit for HS Code 40122080 is the number (NO). This implies that the quantity of used pneumatic tires is counted in numbers rather than weight or volume.
There are also special tariff preference programs associated with HS Code 40122080. The following countries enjoy preferential treatment when importing products falling under this code:
These special tariff preference programs provide certain countries with advantageous trade conditions, including duty-free treatment or reduced rates for importing products falling under HS Code 40122080.
HS Code 40122080 refers to used pneumatic tires made of rubber for machinery, not elsewhere specified. It is important for importers, exporters, and customs authorities to be aware of this code to ensure accurate classification and adherence to applicable customs regulations. The code is associated with a free bound/MFN duty rate and is eligible for various special tariff preference programs, benefiting specific countries in their trade relations.