The HS code 87033200 refers to motor cars and other motor vehicles designed for the transport of persons. These vehicles are equipped with a compression-ignition internal combustion reciprocating piston engine, with a cylinder capacity exceeding 1500 cc but not exceeding 2500 cc.
When it comes to international trade, the HS code plays a crucial role in identifying and categorizing goods. It helps in streamlining customs procedures, determining import and export duties, and facilitating trade negotiations. In the case of HS code 87033200, the code provides specific information about motor vehicles designed for passenger transportation.
The product description for HS code 87033200 is as follows: "Motor cars & o/mtr. vehicles for transport of persons, w/compress.-ign. int. combust. recip. piston engine w/cyl. cap. o/1500 cc n/o 2500 cc." This description clearly outlines the key features of the vehicles falling under this HS code.
The bound / MFN (Most Favored Nation) duty rate for HS code 87033200 is 2.5%. The MFN principle states that whenever 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 ensures fair and equal treatment in international trade.
The quantity unit for HS code 87033200 is a number (NO), indicating that the quantity of these motor vehicles is measured in numerical units.
Several special tariff preference programs apply to imports classified under HS code 87033200. These programs grant certain benefits and preferential treatment to eligible countries. The programs applicable to this HS code include:
The following US states are major importers of motor cars and other motor vehicles falling under HS code 87033200:
These states have a significant demand for motor vehicles for personal transportation, leading to a high volume of imports under HS code 87033200.
The following US states are major exporters of motor cars and other motor vehicles falling under HS code 87033200:
These states have a thriving automobile manufacturing industry and export a significant number of motor vehicles to various countries.
HS code 87033200 represents motor cars and other motor vehicles designed for the transportation of persons. Understanding the HS code is essential for importers, exporters, and policymakers involved in international trade. By providing detailed information about the product, duty rates, and tariff preference programs, the HS code facilitates smooth and efficient global trade in motor vehicles.