The HS Code 87032100 refers to motor cars and other motor vehicles that are designed for the transport of persons. These vehicles are equipped with spark-ignition internal combustion reciprocating piston engines and have a cylinder capacity not exceeding 1000 cc.
When it comes to trade barriers and market openings, the bound / MFN (Most Favored Nation) duty rate for HS Code 87032100 is 2.5%. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
The quantity unit for this HS Code is measured in numbers (NO).
There are several special tariff preference programs applicable to imports of motor cars and other motor vehicles for transport of persons under HS Code 87032100. These programs include:
The HS Code 87032100 is imported by several US states, including California, Michigan, Montana, Utah, Iowa, Maryland, South Dakota, Georgia, Hawaii, New Jersey, Oregon, Puerto Rico, Rhode Island, Tennessee, Texas, Virginia, Washington, Florida, and Louisiana.
On the other hand, the states that export motor cars and other motor vehicles for transport of persons under HS Code 87032100 are the District of Columbia, Iowa, Minnesota, South Dakota, Kentucky, Delaware, Indiana, Michigan, Mississippi, Missouri, Oregon, Illinois, Alabama, South Carolina, Ohio, Virgin Islands, California, Florida, New York, and Kansas.
The HS Code 87032100 plays a significant role in regulating the import and export of motor cars and other motor vehicles for the transport of persons. It ensures that trade barriers are lowered and markets are opened up, while also providing various tariff preference programs for eligible countries.