The HS Code 85012040 refers to a specific product category, which is Universal AC/DC Motors of an Output Exceeding 74.6 W but not Exceeding 735 W. This code is used internationally for the classification and identification of goods during import and export processes. Understanding the HS Code is essential for businesses and individuals involved in international trade, as it helps ensure compliance with customs regulations and facilitates the smooth movement of goods across borders.
The product description mentioned in this HS code indicates that it covers universal motors that can operate on both alternating current (AC) and direct current (DC) power sources. The motors included in this category have an output power exceeding 74.6 Watts but not exceeding 735 Watts. These motors find applications in various industries, including automotive, electronics, and manufacturing.
When importing goods classified under HS Code 85012040, it is important to be aware of the duty rates associated with the product. The bound or Most Favored Nation (MFN) duty rate for this category is 4%. 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. It is worth noting that duty rates can vary based on trade agreements, preferential programs, and other factors.
The quantity unit specified for this HS code is "number" (NO), which indicates that the quantity of motors being imported or exported is measured in individual units.
Several special tariff preference programs are applicable to the import of goods classified under HS Code 85012040. These programs provide certain countries with preferential treatment, including duty-free access to the respective markets. Some of the special tariff preference programs applicable to this HS code include:
When it comes to the United States, the data provided does not specify the exporting states for goods classified under HS Code 85012040. However, the importing state mentioned is Missouri. This indicates that the state of Missouri receives imports of Universal AC/DC Motors falling under this HS code. The absence of exporting states suggests that these motors could be sourced from various locations worldwide.
Understanding the HS Code and its associated information is crucial for businesses, customs authorities, and individuals involved in international trade. It helps ensure compliance with customs regulations, determine duty rates, and take advantage of preferential programs. By having access to accurate and up-to-date HS Code information, stakeholders can streamline their import and export processes, enhance efficiency, and facilitate global trade.