The HS Code 87085079 refers to the classification of parts and accessories of motor vehicles specifically designed for the transportation of persons. These parts are categorized under HS Code 8703, which pertains to motor vehicles primarily designed for the transport of persons, including both cars and passenger buses.
When it comes to international trade, the HS Code plays a crucial role in identifying and classifying products for customs purposes. It allows countries to apply the appropriate duties and tariffs on imported and exported goods, ensuring fair trade practices and revenue collection.
The product description for HS Code 87085079 is "Parts and accessories of motor vehicles for the transportation of persons of HS Code 8703, parts of non-driving axles." This means that the code specifically refers to components and accessories that are used in motor vehicles designed for passenger transportation.
Parts of non-driving axles refer to components that are not directly involved in driving the vehicle but are necessary for its proper functioning. These may include suspension systems, bearings, wheel hubs, and other related parts.
The bound or most-favored-nation (MFN) duty rate for HS Code 87085079 is 2.5%. The MFN duty rate is the baseline rate that a country applies to imports from all its trading partners, without any preferential treatment. It ensures that trade barriers are not selectively imposed on specific goods or services from certain countries.
It is important to note that duty rates can vary depending on the country and any special trade agreements or preferences that may be in place. Some countries may have lower or zero duty rates for certain goods under specific programs.
HS Code 87085079 may be eligible for special tariff preference programs in certain countries. These programs provide duty-free or preferential treatment to imports from specific countries or regions. Here are some examples:
These programs aim to promote trade and strengthen economic ties between countries by offering preferential treatment to certain products. Importers and exporters should be aware of the specific requirements and conditions of each program to take advantage of the benefits they offer.
HS Code 87085079 has been imported into various states in the United States, including Alabama, Michigan, Arkansas, Mississippi, Ohio, and South Carolina. These states have seen a consistent demand for parts and accessories of motor vehicles for the transportation of persons.
On the other hand, the code has been exported from Michigan and North Carolina. These states have been actively involved in manufacturing and exporting motor vehicle parts and accessories.
The trade of HS Code 87085079 contributes to the automotive industry's growth and supports the transportation needs of individuals and businesses across different states in the United States.
HS Code 87085079 encompasses parts and accessories specifically designed for motor vehicles used in the transportation of persons. It is important for importers, exporters, and trade professionals to understand the classification, duty rates, and any special tariff preference programs associated with this HS Code to facilitate international trade effectively.