The HS Code 87089465 refers to parts and accessories of tractors that are not road tractors or suitable for agricultural use. Specifically, it includes parts of steering wheels, columns, and boxes. Understanding the HS code is essential for international trade as it provides a standardized system for classifying products and determining applicable tariffs.
When importing or exporting goods, it is important to be aware of the bound or MFN (Most Favored Nation) duty rate. The bound duty rate represents the maximum tariff rate that a country can impose on a particular product. In the case of HS Code 87089465, the bound duty rate is free, meaning there is no tariff applied.
Furthermore, there are special tariff preference programs available for this HS code. These programs provide duty-free treatment or reduced tariffs for eligible countries. For HS Code 87089465, the following countries have special tariff rates: Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, Dominican Republic-Central America (DR-CAFTA), Peru, and Singapore.
Importing of products under HS Code 87089465 is prevalent in several US states, including Utah, Alabama, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, North Carolina, Ohio, South Carolina, South Dakota, Tennessee, and West Virginia. These states have a higher demand for these tractor parts and accessories.
On the other hand, the exporting of products under this HS code is more prominent in states like Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Ohio, Rhode Island, South Carolina, Tennessee, Virginia, and Wisconsin. These states have a greater supply of these tractor parts and accessories for international trade.
Understanding the HS Code 87089465 and its associated data is crucial for importers and exporters in the agricultural and automotive industries. By knowing the applicable duty rates and special tariff programs, businesses can make informed decisions regarding international trade and maximize their cost-effectiveness.