The HS Code 87085081 refers to the parts and accessories of motor vehicles of HS Code 8703, specifically those made of cast iron nesoi. This code is used for international trade and customs purposes to classify and identify these particular products.
When importing or exporting goods, it is important to understand the HS code assigned to the product. This code helps in determining the applicable duties and trade policies that may affect the import or export of the product.
The bound or MFN (Most Favored Nation) duty rate for HS Code 87085081 is free. This means that countries must lower trade barriers and open up their markets for the same goods or services from all their trading partners. This promotes fair and equal trade opportunities for all participating countries.
The quantity unit for HS Code 87085081 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported goods.
There are also special tariff preference programs available for HS Code 87085081. These programs provide duty-free treatment for certain countries. The countries included in the special tariff preference programs for this HS code are: Australia, Bahrain, Canada, Chile, Israel, Jordan, Morocco, Mexico, Oman, Dominican Republic, Peru, and Singapore.
When it comes to importing, the following US states have shown significant imports of products classified under HS Code 87085081: Alabama, Michigan, Arkansas, Mississippi, Ohio, and South Carolina. These states have a demand for the parts and accessories made of cast iron, contributing to the overall import numbers for this HS code.
On the other hand, the main US states engaged in exporting products classified under HS Code 87085081 are Michigan and North Carolina. These states are actively involved in supplying parts and accessories made of cast iron to international markets.
Understanding the HS code and its associated data is crucial for businesses involved in international trade. It helps in complying with customs regulations, determining applicable duties, and identifying potential markets for import or export.
By knowing the HS code, businesses can ensure smooth and efficient cross-border transactions while taking advantage of any special tariff preference programs that may be available. This knowledge also helps in analyzing trade patterns and identifying emerging market trends.
HS Code 87085081 represents the parts and accessories of motor vehicles made of cast iron nesoi. This code is used for international trade classification and customs purposes. It is important for businesses to understand the HS code and its associated data to navigate the complexities of global trade effectively.