When it comes to international trade, the Harmonized System (HS) is used to classify products for customs purposes. Each product is assigned a unique HS code, which helps in identifying and categorizing goods. One such HS code is 85014050, which is assigned to AC motors that are single-phase and have a power output exceeding 735 W but under 746 W.
AC motors are widely used in various industries and applications. They are essential for powering machinery, appliances, and equipment. These motors convert electrical energy into mechanical energy, making them crucial components in many devices and systems.
With a specific HS code like 85014050, it becomes easier for customs authorities and traders to accurately identify and classify AC motors falling under this category. This standardization helps streamline international trade processes, ensuring that the correct duties and tariffs are applied to imported or exported goods.
Speaking of duties and tariffs, the bound or Most Favored Nation (MFN) duty rate for HS code 85014050 is 3.3%. The MFN principle states 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. This principle promotes fair and equal treatment in international trade.
The quantity unit for HS code 85014050 is number (NO), which means that the quantity of AC motors being imported or exported is measured in units.
Now, let's talk about special tariff preference programs that may apply to AC motors falling under HS code 85014050. These programs provide certain countries with preferential treatment in terms of duty rates. For this specific HS code, the following special tariff preference programs apply:
These special tariff preference programs can significantly impact the cost of importing or exporting AC motors falling under HS code 85014050, depending on the country involved and the specific program applied.
When it comes to importing AC motors under HS code 85014050, one of the exporting US states is Missouri. This means that AC motors falling under this HS code can be sourced from or shipped to Missouri.
HS code 85014050 plays a crucial role in international trade, ensuring accurate classification and identification of AC motors exceeding 735 W but under 746 W. Importers, exporters, and customs authorities rely on this code to facilitate smooth trade operations and determine the applicable duties and tariffs for these specific products.