The HS Code 84072900 refers to marine propulsion spark-ignition reciprocating or rotary internal-combustion piston engines that are not elsewhere specified. This code is used to classify and identify these specific types of engines for trade and import/export purposes.
Marine propulsion engines play a crucial role in powering boats, ships, and other water vessels. These engines are designed to provide the necessary power and torque to propel the vessel through water. The engines classified under HS Code 84072900 are specifically spark-ignition reciprocating or rotary internal-combustion piston engines.
When it comes to international trade, the HS Code is essential for customs authorities to regulate and control the import and export of goods. It ensures that goods are properly classified and taxed based on their nature and purpose. The HS Code 84072900 helps in identifying and categorizing marine propulsion engines for trade purposes.
The Bound/MFN (Most Favored Nation) duty rate for this HS Code is free, which means that countries are not required to impose any import duty on these engines. This encourages international trade and facilitates the smooth movement of goods across borders. It promotes fair competition and equal treatment for all trading partners.
However, it should be noted that the duty rate may vary for different countries or under specific tariff preference programs. In the case of HS Code 84072900, there are several special tariff preference programs available, offering duty-free treatment or special rates for certain countries:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties on specific goods. They create opportunities for businesses to expand their markets and benefit from preferential treatment in participating countries.
When it comes to importing marine propulsion engines classified under HS Code 84072900, there are no specific restrictions on the US states that can import these engines. However, it is important for importers to comply with relevant regulations and requirements related to safety, emissions, and other applicable standards.
On the exporting side, the data provided indicates that the engines have been exported from the state of Maine in the US. Maine has a strong maritime industry, and it is not surprising to see it as a major exporter of marine propulsion engines. Additionally, the state of Wisconsin is also mentioned as an exporting state, although no further details are provided.
the HS Code 84072900 is used to classify marine propulsion spark-ignition reciprocating or rotary internal-combustion piston engines that are not elsewhere specified. It plays a crucial role in international trade by ensuring proper classification, regulation, and taxation of these engines. The code also indicates that these engines are eligible for duty-free treatment or special rates under various tariff preference programs, promoting fair trade and cooperation between countries.