The HS Code 87089450 refers to parts and accessories of motor vehicles of headings 8701, not elsewhere specified, and headings 8702 to 8705, including steering wheels, steering columns, and steering boxes. This code is used to classify and identify these specific products for international trade purposes.
When it comes to international trade, the HS Code plays an important role in ensuring uniformity and clarity in the classification of goods. It provides a standardized system that is recognized globally, enabling countries to understand and categorize the products being imported or exported.
The description of the product under HS Code 87089450 includes various parts and accessories of motor vehicles. These can range from small components like steering wheels to more complex systems like steering columns and steering boxes. These parts are essential for the proper functioning and control of motor vehicles.
Importing products under HS Code 87089450 into the United States is subject to a bound or Most Favored Nation (MFN) duty rate of 2.5%. The MFN duty rate ensures that any trade barrier reduction or market opening by a country applies to all its trading partners and the same goods or services. However, it is important to note that certain special tariff preference programs provide duty-free treatment for products under this HS Code.
Some of the special tariff preference programs that offer duty-free treatment for HS Code 87089450 include the Generalized System of Preferences (GSP), Automotive Products Trade Act (APTA), NAFTA for Canada and Mexico, Caribbean Basin Initiative (CBI), Andean Trade Preference Act (ATPA), Israel Special Rate, Jordan Special Rate, Morocco Special Rate, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, and Singapore Special Rate.
When it comes to importing HS Code 87089450 products into the United States, certain states have a higher demand. These states include Utah, Alabama, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, North Carolina, Ohio, South Carolina, South Dakota, Tennessee, and West Virginia.
On the other hand, the major exporting states for HS Code 87089450 products from the United States include Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Ohio, Rhode Island, South Carolina, Tennessee, Virginia, and Wisconsin.
Overall, the HS Code 87089450 is used to classify and identify parts and accessories of motor vehicles, including steering wheels, steering columns, and steering boxes. Understanding the HS Code system is crucial for international trade, ensuring uniformity and clarity in the classification of goods.