The HS Code 86029000 refers to non-electric rail locomotives (other than diesel-electric) and locomotive tenders. This code is used to classify and identify these specific products in international trade. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 86029000 covers rail locomotives that are non-electric and not diesel-electric. It also includes locomotive tenders, which are the vehicles attached to locomotives to carry fuel and water. These locomotives and tenders are essential components of the railway transportation system, enabling the movement of goods and passengers across long distances.
The bound or most-favored-nation (MFN) duty rate for HS Code 86029000 is free. This means that countries must eliminate any trade barriers or open up their markets for the same goods or services from all their trading partners. By having a free duty rate, it encourages fair and equal trade practices between nations, promoting economic growth and development.
The quantity unit for HS Code 86029000 is measured in numbers (NO). This unit represents the count or quantity of rail locomotives and locomotive tenders being traded. It allows for accurate tracking and documentation of the products during import and export processes.
HS Code 86029000 is eligible for various special tariff preference programs, providing certain countries with preferential treatment or exemptions from duty payments. The following countries have special rates or duty-free treatment for this HS code:
These special tariff preference programs aim to promote trade between specific countries by reducing or eliminating customs duties on the importation of rail locomotives and locomotive tenders.
The HS Code 86029000 allows for the importation of rail locomotives and locomotive tenders into various states of the United States. These states serve as destinations for these products, where they are utilized in the transportation sector to support the movement of goods and people.
The HS Code 86029000 enables the exportation of rail locomotives and locomotive tenders from different states within the United States. These states act as the origin for these products, producing and supplying them to meet the demand of both domestic and international markets.
the HS Code 86029000 represents non-electric rail locomotives and locomotive tenders. It plays a crucial role in classifying and identifying these products for international trade purposes. By understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code, stakeholders in the railway transportation industry can navigate the global market more effectively.