The HS Code 87088055 refers to parts and accessories of tractors that are not meant for road tractors or agricultural use. These parts specifically pertain to suspension systems that are not elsewhere specified. This code is used for international trade purposes, allowing countries to classify and regulate the import and export of these products.
When it comes to trade barriers and market access, the HS Code 87088055 is subject to bound and MFN (Most Favored Nation) duty rates. This means that every time 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 the HS Code 87088055 is measured in numbers (NO), indicating the number of units or pieces being imported or exported.
There are special tariff preference programs associated with this HS Code. These programs offer duty-free treatment for the import and export of these products. The countries eligible for these special rates include Australia, Bahrain, Canada, Chile, Dominican Republic, Israel, Jordan, Mexico, Morocco, Oman, Peru, Singapore, and several others. These preferential programs aim to promote trade and economic cooperation between countries.
When it comes to importing the products under HS Code 87088055, various US states are involved. These states include Utah, Alabama, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, North Carolina, Ohio, South Carolina, South Dakota, Tennessee, and West Virginia. These states are actively engaged in the importation of these tractor parts and suspension system accessories.
On the other hand, the exporting US states for HS Code 87088055 include Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Ohio, Rhode Island, South Carolina, Tennessee, Virginia, and Wisconsin. These states are involved in exporting these products to other countries.
The HS Code 87088055 plays a crucial role in regulating and facilitating trade in parts and accessories of tractors. It ensures that these products are properly classified, and the appropriate duties and tariffs are applied. By understanding this code and its implications, importers and exporters can navigate the international trade landscape more effectively.