When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) provides a globally recognized framework for this purpose. One specific HS code that we will delve into in this article is HS Code 87149690.
HS Code 87149690 refers to "Pts. & access. for bicycles & o/cycles, crank-gear nesoi and parts thereof." This code is used to classify various components and accessories related to bicycles and motorcycles that are not classified under other specific HS codes.
It is important to note that the HS code provides a clear and uniform classification system that enables customs authorities and traders to identify and categorize products accurately. This facilitates international trade and ensures proper application of customs duties and regulations.
The bound / MFN duty rate for HS Code 87149690 is 10%. A bound duty rate is the maximum level of customs duty that a country can charge on imported goods. The Most Favored Nation (MFN) principle ensures that whenever 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 means that if a country decides to lower its duty rate for products classified under HS Code 87149690, it must apply the same reduced rate to imports from all its trading partners. This principle promotes fair and equal treatment in international trade.
The quantity unit for HS Code 87149690 is kilograms (KG). This unit of measurement is commonly used in international trade to determine the weight of imported or exported goods. It ensures consistency and accuracy in calculating customs duties and other trade-related charges.
HS Code 87149690 is eligible for various special tariff preference programs that offer reduced or duty-free treatment. Some of the programs applicable to this HS code include:
These programs aim to promote trade, economic growth, and development by offering preferential treatment to eligible countries or regions. Traders importing products under HS Code 87149690 from these countries can benefit from reduced or duty-free rates, depending on the program's provisions.
HS Code 87149690 applies to imports and exports across various US states. Importing US states that are likely to receive products classified under this HS code include:
Similarly, exporting US states that are likely to ship products classified under this HS code include:
These states play a crucial role in international trade and contribute to the overall import and export of products under HS Code 87149690.
HS Code 87149690 encompasses various parts and accessories for bicycles and motorcycles that are not classified under other specific HS codes. It carries a bound / MFN duty rate of 10% and is measured in kilograms (KG). Traders can take advantage of special tariff preference programs that offer reduced or duty-free treatment for imports under this HS code. Understanding the details and implications of HS Code 87149690 is vital for importers, exporters, and customs authorities to ensure smooth and compliant international trade.