Electric motors play a crucial role in various industries and applications. They are responsible for converting electrical energy into mechanical energy, making them essential components in countless devices and machinery. One specific type of electric motor is categorized under HS Code 85011020, which refers to electric motors with an output of under 18.65 W.
The HS Code 85011020 provides a standardized classification for these motors, allowing for easier identification and tracking in international trade. This code can be found on various documents and forms related to importing and exporting electric motors, ensuring proper classification and adherence to regulations.
Product Description: Electric motors of an output of under 18.65 W, synchronous, valued not over $4 each.
When importing or exporting electric motors falling under HS Code 85011020, it is essential to understand the associated duties and tariff rates. The bound or Most Favored Nation (MFN) duty rate for this HS code is 6.7%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same rate to all its trading partners for the same goods or services.
However, there are certain special tariff preference programs that offer exemptions or reduced duty rates for electric motors under HS Code 85011020. The following programs provide preferential treatment:
Free: Generalized System of Preferences (GSP) (duty-free treatment)
Australia Special Rate: Automotive Products Trade Act (APTA) (duty-free treatment)
Bahrain Special Rate
NAFTA for Canada (duty-free treatment)
Chile Special Rate
Caribbean Basin Initiative (CBI)
Israel Special Rate (duty-free treatment)
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
Singapore Special Rate
These special rates and programs aim to promote trade and economic cooperation between countries by reducing or eliminating the duty burden on specific goods, including electric motors.
Importing US States:
Missouri
Missouri
Missouri
Missouri
Exporting US States:
Connecticut
Connecticut
Connecticut
When importing or exporting electric motors under HS Code 85011020, it is crucial to comply with the regulations and requirements of the specific countries involved. Proper classification, documentation, and adherence to duty rates and special programs will ensure smooth and efficient trade of these essential components.