When it comes to international trade, HS codes play a crucial role in classifying goods and determining their tariff rates. In this article, we will explore the HS code 87114030, which refers to motorcycles (including mopeds) and cycles fitted with a reciprocating internal-combustion piston engine with a capacity over 500 cc but not exceeding 700 cc.
Bound / MFN Duty Rate:
The bound or MFN (Most Favored Nation) duty rate for HS code 87114030 is free. This means that countries must apply a zero tariff rate for this specific category of motorcycles and cycles when trading with their international partners.
Special Tariff Preference Programs:
Several countries have established special tariff preference programs for HS code 87114030, providing additional benefits and exemptions. The following countries offer duty-free treatment for these motorcycles and cycles:
Importing US States:
While HS code 87114030 is applicable to the entire United States, it is interesting to note that the state of Utah seems to have a higher import demand for motorcycles and cycles with reciprocating internal-combustion piston engines.
Exporting US States:
On the other hand, the states of Missouri and Pennsylvania appear to be major exporters of motorcycles and cycles falling under HS code 87114030.
HS code 87114030 represents motorcycles and cycles fitted with reciprocating internal-combustion piston engines within a specific engine capacity range. Understanding the tariff rates, special tariff preference programs, and the import/export patterns associated with this HS code is essential for businesses engaged in international trade of these vehicles.