HS Code 87149250: Pts. & access. for bicycles & o/cycles, wheel spokes
The HS Code 87149250 refers to parts and accessories for bicycles and motorcycles, specifically wheel spokes. This code is used to classify and identify these products in international trade. Understanding the HS code is essential for importers and exporters as it helps facilitate smooth and efficient trade transactions.
When importing or exporting products under HS Code 87149250, it is important to be aware of the relevant regulations and duty rates. The bound or most-favored-nation (MFN) duty rate for this code is 10%. The MFN duty rate means 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. This encourages fair and equal trade practices among countries.
The quantity unit for products classified under HS Code 87149250 is kilograms (KG). This unit of measurement is used to determine the weight of the goods being traded.
In addition to the duty rate, there are also special tariff preference programs available for products under HS Code 87149250. These programs provide preferential treatment or reduced duty rates for certain countries. The following countries have free tariff preference for these products: Australia, Bahrain, Canada (under NAFTA), Chile, European Union (EU), Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, and the United States.
Singapore has a special rate of 1.2% for products classified under HS Code 87149250. This means that importers/exporters trading with Singapore will need to pay a duty rate of 1.2% for these products.
It is important to note that these tariff preference programs may change over time, so it is crucial to stay updated with the latest trade agreements and regulations. Importers and exporters should consult with customs authorities or trade experts to ensure compliance with the relevant tariff rates and requirements.
When it comes to importing or exporting goods under HS Code 87149250, it is essential to consider the specific regulations and requirements of the importing and exporting countries. Each country may have its own rules regarding documentation, labeling, packaging, and safety standards. Adhering to these regulations is crucial to avoid any delays or penalties in the trade process.
HS Code 87149250 pertains to parts and accessories for bicycles and motorcycles, specifically wheel spokes. Importers and exporters dealing with these products should be familiar with the duty rates, quantity units, and special tariff preference programs associated with this HS code. Staying informed and compliant with the relevant regulations is vital for successful and efficient international trade.
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