Bicycles are a popular mode of transportation and a source of recreation for people all around the world. As the demand for bicycles continues to grow, so does the need for high-quality components that ensure the safety and functionality of these vehicles. One such crucial component is the brake system, which plays a vital role in controlling the speed and stopping power of a bicycle. The HS Code 99022471 refers to brakes designed specifically for bicycles, excluding drum brakes, caliper & cantilever brakes, and coaster brakes, along with their respective parts.
The HS Code 99022471 encompasses brakes that are tailor-made for bicycles. These brakes are specially designed to provide optimal stopping power and control for riders. The code excludes drum brakes, caliper & cantilever brakes, and coaster brakes, as these types of brakes have their own designated HS codes. Additionally, the code includes the parts that make up the brake system, ensuring that all components necessary for the proper functioning of the brakes are covered.
The bound / MFN (Most Favored Nation) duty rate for HS Code 99022471 is 6.3%. This rate is applicable every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment when it comes to import duties. The 6.3% duty rate acts as a standard and applies uniformly to all countries engaging in the import and export of brakes designed for bicycles and their parts.
The quantity unit for HS Code 99022471 is not available (NA). This means that the specific unit of measurement for these brakes and their parts is not specified under this HS code. The absence of a quantity unit suggests that the code focuses on classifying the product and its components rather than quantifying them in a specific unit of measurement.
Special tariff preference programs are trade agreements or arrangements that offer reduced or zero-duty rates on specific goods imported into a country. These programs aim to promote trade, economic growth, and development between participating countries. While the specific special tariff preference programs applicable to HS Code 99022471 are not mentioned, it is important for importers and exporters to stay informed about any existing programs that may provide benefits or concessions for this particular HS code.
When it comes to importing and exporting brakes designed for bicycles and their parts under HS Code 99022471, the specific US states involved may vary based on trade patterns and market demand. However, some states are known for their active involvement in the bicycle industry and may serve as significant importers or exporters of these products.
Importing US states:
Exporting US states:
These states have a strong presence in the bicycle industry, hosting manufacturers, distributors, and retailers who engage in the import and export of bicycle components, including brakes.
HS Code 99022471 covers brakes designed specifically for bicycles, excluding certain types of brakes, and their respective parts. This code ensures that import duties are applied uniformly to all countries, promoting fair trade practices. While the specific quantity unit and special tariff preference programs are not mentioned, it is essential for importers and exporters to stay updated on any relevant programs or policies. Finally, the involvement of specific US states in the import and export of these brakes may vary based on market dynamics and industry presence.