When it comes to bicycles, there are various parts and accessories that are essential for their assembly and functionality. One such category of products is covered under the HS Code 87149150. This HS code specifically refers to sets of steel tubing that are cut to exact length for the assembly of the frame and fork of a bicycle, along with other necessary parts.
The HS Code system is an internationally recognized classification system for traded goods. It helps in standardizing the classification and identification of products for customs and statistical purposes. HS Code 87149150 falls under the broader category of bicycles and bicycle parts, and it is used by customs authorities to facilitate the import and export of these products.
Bound / MFN duty rate for HS Code 87149150 is 6%. The term "bound" refers to the maximum rate of duty that a country can impose on a particular product. The "MFN" (Most Favored Nation) duty rate signifies that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. In the case of HS Code 87149150, the duty rate is 6%.
The quantity unit for HS Code 87149150 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported goods under this code. It helps in calculating the quantity of sets of steel tubing or other parts being traded.
There are also special tariff preference programs applicable to imports under HS Code 87149150. These programs provide certain countries with preferential treatment in terms of duty rates. Some of the countries that enjoy special tariff preferences for this HS code include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and various beneficiary developing countries under the Africa Growth and Opportunity Act (AGOA) and Caribbean Basin Initiative (CBI).
In the United States, the importing and exporting of products under HS Code 87149150 can take place between various states. The specific states involved in importing and exporting these bicycle parts and accessories may vary depending on the trade activities and preferences of businesses and individuals.
Overall, HS Code 87149150 plays a crucial role in the international trade of parts and accessories for bicycles. It helps in standardizing the classification, facilitating customs procedures, and ensuring proper documentation and duty rates for these products. Whether it's the steel tubing for the frame or other necessary components, this HS code ensures smooth trade operations for the bicycle industry.