The HS Code 84118140 refers to aircraft gas turbines that are not turbojets or turbopropellers and have a power not exceeding 5,000 kW. This code is used for international trade purposes to classify and track the import and export of these specific products.
The product description specifies that it is related to gas turbines used in aircraft. Gas turbines are engines that utilize the combustion of fuel to generate power. They are commonly used in aviation to propel aircraft by producing thrust.
The HS Code is an internationally recognized system for classifying goods in international trade. It helps to standardize the classification of products and facilitates the tracking of imports and exports across different countries. The code is used by customs authorities, trade organizations, and businesses to ensure accurate classification and documentation of goods.
When importing or exporting products classified under HS Code 84118140, it is important to be aware of the bound or most-favored-nation (MFN) duty rate. The bound duty rate is the maximum tariff that a country can impose on a particular product. The MFN duty rate applies to all trading partners and ensures that any trade barriers or market openings are applied equally to all countries.
In the case of HS Code 84118140, the bound or MFN duty rate is free. This means that there are no tariffs or duties imposed on the import or export of these aircraft gas turbines, as long as the country follows the principles of free trade and does not have any specific trade restrictions or regulations in place.
Additionally, there are special tariff preference programs that offer duty-free treatment for imports of aircraft gas turbines under HS Code 84118140. These programs include:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved, by reducing or eliminating tariffs on specific goods.
It is also important to note the quantity unit for this HS Code, which is number (NO). This means that the quantity of aircraft gas turbines imported or exported is measured in units, rather than weight or volume.
When looking at the specific regions or states involved in importing and exporting aircraft gas turbines under HS Code 84118140, the following US states are listed:
These states are involved in the import and export of aircraft gas turbines under this HS Code, indicating the geographical distribution of trade activities related to these products within the United States.
Overall, HS Code 84118140 plays a crucial role in classifying and tracking aircraft gas turbines other than turbojets or turbopropellers, with a power not exceeding 5,000 kW, in international trade. It helps to ensure accurate documentation, facilitate trade agreements and preferences, and promote economic cooperation between countries.