When it comes to international trade, HS codes play a crucial role in identifying and classifying products. HS Code 98130035 specifically pertains to automobiles, other vehicles, and craft that are temporarily imported by nonresidents for races or other specific contests. In this article, we will take a closer look at this HS code, its product description, tariff rates, special tariff preference programs, and more.
The product description for HS Code 98130035 is as follows: Automobiles, and other vehicles and craft, and the usual equipment; all temporarily imported by nonresidents for races or other specific contests. This code is specifically designed to cover the temporary importation of vehicles and craft for competitive purposes by individuals or organizations who are not residents of the importing country.
The bound / MFN (Most Favored Nation) duty rate for HS Code 98130035 is free, under bond, as prescribed in U.S. note 1 to this subchapter. The MFN principle states 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 trading partners.
The quantity unit for HS Code 98130035 is not available (NA). This means that the specific unit of measurement for the quantity of automobiles, vehicles, and craft imported under this code is not defined. It could vary depending on the specific circumstances and requirements of the temporary importation.
HS Code 98130035 is eligible for various special tariff preference programs. These programs offer either duty-free treatment or a specific percentage of the fair retail value as the duty rate. The programs applicable to this HS code are as follows:
Based on the available data, the importing US state(s) for HS Code 98130035 is Utah. This means that vehicles and craft falling under this HS code are imported into the state of Utah. It is important to note that this information is based on the provided data and may vary depending on specific importation scenarios.
The exporting US states for HS Code 98130035 are not specified in the provided data. It is essential to consult additional sources or specific trade agreements to determine the exporting US states for this HS code.
HS Code 98130035 is specifically designed for the temporary importation of automobiles, other vehicles, and craft by nonresidents for races or other specific contests. It is important for importers, exporters, and customs authorities to accurately classify and understand the applicable tariff rates and special tariff preference programs related to this HS code for smooth international trade operations.