The HS Code 87081060 refers to parts and accessories of motor vehicles falling under headings 8701 to 8705, specifically parts of bumpers. This code is used to classify these products for import and export purposes. Understanding this HS code is essential for businesses involved in the automotive industry, as it determines the duty rates and trade preferences applicable to these goods.
The HS Code 87081060 covers various parts and accessories of motor vehicles, specifically those related to bumpers. Bumpers are crucial components of vehicles that provide protection in case of collisions. These parts may include bumper covers, reinforcement bars, brackets, and other related components.
The bound / MFN (Most Favored Nation) duty rate for products classified under HS Code 87081060 is 2.5%. The MFN principle ensures 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 is applicable to all countries unless specific tariff preferences or trade agreements modify it.
The quantity unit for products classified under HS Code 87081060 is the number (NO). This unit indicates the quantity of parts or accessories being imported or exported.
Products classified under HS Code 87081060 may qualify for special tariff preference programs, providing duty-free treatment. Some of the special tariff preference programs applicable to these goods include:
The HS Code 87081060 is regularly imported into various US states, including Alabama, Michigan, Arkansas, Mississippi, Ohio, South Carolina, Indiana, Kentucky, Pennsylvania, and more. These states have a significant demand for parts and accessories of motor vehicles, reflecting the strong presence of the automotive industry.
On the export side, the primary US states involved in the trade of products classified under HS Code 87081060 are Michigan and North Carolina. These states have a robust manufacturing base and are known for their automotive industry, making them major exporters of motor vehicle parts and accessories.
In addition to Michigan and North Carolina, other states such as Illinois, Indiana, Ohio, South Carolina, Kentucky, Tennessee, Texas, and West Virginia also play a role in exporting these goods.
Understanding the HS Code 87081060 is crucial for businesses operating in the automotive industry. This code classifies parts and accessories of motor vehicles, specifically parts of bumpers. It determines the duty rates and trade preferences for these goods, ensuring compliance with import and export regulations. By staying informed about the applicable duty rates and special tariff preference programs, businesses can make informed decisions and optimize their operations in the global automotive market.