Iron or steel leaf springs are an essential component of motor vehicle suspension systems. They provide support and stability to the vehicle, ensuring a smooth and comfortable ride. The HS Code 73201060 specifically refers to leaf springs and leaves made from iron or steel that are suitable for motor vehicle suspension, excluding those designed for vehicles with a gross vehicle weight of over 4 metric tons.
The product covered by HS Code 73201060 includes leaf springs and leaves made from iron or steel. These springs are crucial in supporting the weight of the vehicle and absorbing shocks and vibrations from the road. They are commonly used in various types of motor vehicles, such as cars, trucks, SUVs, and commercial vehicles.
The bound or most-favored-nation (MFN) duty rate for HS Code 73201060 is 3.2%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate to the importation of iron or steel leaf springs from all its trading partners. The duty rate is applied to the declared value of the imported goods and is payable by the importer.
The quantity unit for HS Code 73201060 is kilograms (KG). The weight of the imported leaf springs is measured in kilograms, which allows for accurate determination of the quantity being imported or exported.
Under certain special tariff preference programs, imports of iron or steel leaf springs under HS Code 73201060 may be eligible for duty-free treatment. The following programs offer preferential treatment for imports from specific countries:
The HS Code 73201060 applies to imports and exports of iron or steel leaf springs for motor vehicle suspension to and from various US states. Based on the provided data, the product has been imported/exported to/from Michigan multiple times. Michigan is a significant hub for the automotive industry, and the demand for leaf springs in this state is likely driven by the presence of numerous automobile manufacturers and suppliers.
Overall, HS Code 73201060 plays a crucial role in regulating the importation and exportation of iron or steel leaf springs for motor vehicle suspension. It ensures that appropriate duties are levied, and it allows for preferential treatment under certain special tariff preference programs. Understanding the HS Code and its associated regulations is essential for businesses involved in the import and export of these essential automotive components.