When it comes to international trade, it is essential to have a clear understanding of the Harmonized System (HS) codes. These codes are internationally recognized and used to classify products for customs and trade purposes. One such HS code is 87120025, which refers to bicycles that are not motorized and meet specific criteria regarding size and weight.
The HS Code 87120025 encompasses bicycles that have both wheels over 63.5 cm in diameter and weigh under 16.3 kg. Additionally, these bicycles are not designed for tires with a cross-sectional diameter over 4.13 cm. This code helps customs officials and traders identify and categorize these specific types of bicycles accurately.
The bound or Most Favored Nation (MFN) duty rate for HS Code 87120025 is 5.5%. The MFN duty rate represents the rate applied to imports on a non-discriminatory basis. It 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 for all participants in international trade.
The quantity unit for HS Code 87120025 is a number (NO). This unit indicates that the quantity is measured in a numerical count rather than weight or volume.
Several special tariff preference programs apply to imports under HS Code 87120025. These programs offer various benefits, such as reduced or duty-free treatment, to eligible countries. The following countries and programs are applicable:
These special tariff preference programs promote trade and economic development between countries by providing favorable conditions for eligible imports under HS Code 87120025.
While the HS Code 87120025 pertains to international trade, it is essential to consider the specific importing and exporting states within the United States. In this case, the data provided indicates that the bicycles under this HS code are primarily imported by the state of Utah.
Understanding the HS Code 87120025 and its associated information is crucial for importers, exporters, and customs officials involved in international trade. It ensures accurate classification, proper duty rates, and eligibility for special tariff preference programs. By adhering to these codes and regulations, countries can facilitate smoother trade transactions and foster economic growth.