HS Code 40103130: Transmission V-belts of vulcanized rubber, V-ribbed, circumference exceed 60 cm but not exceed 180 cm, combined with textile materials
Transmission V-belts play a crucial role in the functioning of various types of machinery and equipment. They are responsible for transferring power from the engine to different components, ensuring smooth and efficient operation. One specific type of transmission V-belt is classified under HS Code 40103130. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
Product Description:
HS Code 40103130 refers to transmission V-belts made of vulcanized rubber, specifically V-ribbed belts. These belts have a circumference that exceeds 60 cm but does not exceed 180 cm. Additionally, they are combined with textile materials, enhancing their durability and performance. The combination of vulcanized rubber and textile materials makes these V-belts suitable for various industrial applications.
Duty Rates:
The bound or most-favored-nation (MFN) duty rate for HS Code 40103130 is 3.4%. This rate applies whenever a country lowers a trade barrier or opens up a market, ensuring equal treatment for the same goods or services from all trading partners. Importers should take this duty rate into consideration when calculating the cost of importing transmission V-belts under this HS code.
Quantity Unit:
The quantity unit for HS Code 40103130 is kilograms (KG). This unit of measurement is commonly used to determine the weight of goods being imported or exported. By specifying the quantity in kilograms, it becomes easier for traders and customs officials to accurately assess the volume of transmission V-belts being traded.
Special Tariff Preference Programs:
Several special tariff preference programs offer different duty rates for imports classified under HS Code 40103130. These programs aim to promote trade and provide preferential treatment to eligible countries. The following programs apply to transmission V-belts of vulcanized rubber, V-ribbed, combined with textile materials:
1. Free Trade Agreement (A+, AU, B, BH, CA, CL, D, E, IL, J, JO, MA, MX, OM, P, PE, SG):
Imports from least-developed beneficiary developing countries eligible for GSP under that subheading receive duty-free treatment.
2. Australia Special Rate:
Automotive Products Trade Act (APTA) provides duty-free treatment for imports of transmission V-belts from Australia.
3. Bahrain Special Rate:
Imports of transmission V-belts from Bahrain receive duty-free treatment.
4. NAFTA for Canada:
Under the North American Free Trade Agreement (NAFTA), transmission V-belts imported from Canada enjoy duty-free treatment.
5. Chile Special Rate:
Imports of transmission V-belts from Chile receive duty-free treatment.
6. Africa Growth and Opportunity Act (AGOA):
Transmission V-belts imported from eligible African countries under AGOA are granted duty-free treatment.
7. Caribbean Basin Initiative (CBI):
Imports of transmission V-belts from countries within the Caribbean Basin Initiative receive duty-free treatment.
8. Israel Special Rate:
Transmission V-belts imported from Israel are eligible for duty-free treatment.
9. Andean Trade Preference Act (ATPA):
Imports of transmission V-belts from countries covered by the Andean Trade Preference Act receive duty-free treatment.
10. Jordan Special Rate:
Transmission V-belts imported from Jordan receive duty-free treatment.
11. Morocco Special Rate:
Imports of transmission V-belts from Morocco receive duty-free treatment.
12. NAFTA for Mexico:
Under the North American Free Trade Agreement (NAFTA), transmission V-belts imported from Mexico enjoy duty-free treatment.
13. Oman Special Rate:
Imports of transmission V-belts from Oman receive duty-free treatment.
14. Dominican Republic-Central American Special Rate (DR-CAFTA):
Transmission V-belts imported from countries covered by the DR-CAFTA agreement receive duty-free treatment.
15. Peru Special Rate:
Imports of transmission V-belts from Peru receive duty-free treatment.
16. Singapore Special Rate:
Transmission V-belts imported from Singapore receive duty-free treatment.
Importing and Exporting US States:
When it comes to importing transmission V-belts under HS Code 40103130 into the United States, the state of New Hampshire is involved. However, the specific exporting states are not mentioned in the provided data.
HS Code 40103130 represents transmission V-belts of vulcanized rubber, V-ribbed, with a circumference exceeding 60 cm but not exceeding 180 cm, combined with textile materials. Importers should be aware of the duty rate of 3.4% and consider the quantity unit of kilograms (KG) when trading these V-belts. Additionally, various special tariff preference programs provide duty-free treatment for eligible countries, promoting trade and economic cooperation.
More on HS code 40103130
