When it comes to international trade, it is important to have a clear understanding of the Harmonized System (HS) codes. These codes are used to classify products for customs and statistical purposes. In this article, we will explore the HS code 87032300 in detail, including its product description, duty rates, special tariff preference programs, and the importing and exporting US states for this specific code.
The HS code 87032300 refers to motor cars and other motor vehicles designed for the transportation of persons. These vehicles are equipped with a spark-ignition internal combustion reciprocating piston engine, with a cylinder capacity exceeding 1500 cc but not exceeding 3000 cc. This code specifically covers vehicles used for personal transportation.
The bound or Most Favored Nation (MFN) duty rate for HS code 87032300 is set at 2.5%. This means that when 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. This duty rate applies to all imports of motor cars and vehicles under this HS code.
The quantity unit for HS code 87032300 is a number (NO). This unit indicates that the quantity of motor cars and vehicles imported or exported is measured in individual units.
HS code 87032300 is eligible for several special tariff preference programs. These programs allow for the importation of goods under this code at reduced or duty-free rates. The programs applicable to this HS code include:
These special tariff preference programs aim to promote international trade and provide economic benefits to specific countries or regions.
Several US states are involved in the importation of motor cars and vehicles under HS code 87032300. The importing states include:
These states are actively involved in the importation of motor cars and vehicles for personal transportation.
On the other hand, several US states participate in the exportation of motor cars and vehicles under HS code 87032300. The exporting states include:
These states play a significant role in exporting motor cars and vehicles for personal transportation.
Overall, HS code 87032300 encompasses motor cars and vehicles for the transportation of persons with specific engine specifications. Understanding this code is essential for importers, exporters, and those involved in international trade to ensure compliance with customs regulations and take advantage of applicable tariff preference programs.