The HS Code 87029060 refers to motor vehicles with engines other than diesel, designed for the transport of 10 to 15 persons. This code is used to classify and categorize these specific types of vehicles for international trade purposes. In this article, we will explore the details of this HS code, including its product description, duty rates, special tariff preference programs, and the importing and exporting states in the United States.
The product description for HS Code 87029060 is motor vehicles with engines other than diesel, specifically designed for the transport of 10 to 15 persons. This includes vehicles such as vans, minibusses, and small buses. These vehicles are commonly used for public transportation, shuttle services, and small group transportation.
The bound or MFN (Most Favored Nation) duty rate for HS Code 87029060 is 2%. This means that whenever a country lowers a trade barrier or opens up a market, it must apply the same duty rate of 2% for the import of these motor vehicles from all its trading partners.
HS Code 87029060 is eligible for various special tariff preference programs, which provide duty-free treatment for importing countries. The following countries have special rates or are part of specific programs:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties for specific goods, including motor vehicles for transport of 10-15 persons.
HS Code 87029060 is imported and exported by various states in the United States. The following states are known for importing these motor vehicles:
On the other hand, the following states are known for exporting these motor vehicles:
These states play a significant role in the import and export of motor vehicles for transport of 10-15 persons, contributing to the overall trade of these vehicles in the United States.