The HS Code 84073405 refers to spark-ignition reciprocating piston engines that are specifically designed for agricultural tractors. These engines have a cylinder capacity ranging from over 1000 cc to 2000 cc. They are commonly used in the agricultural sector to power tractors and other agricultural machinery.
When it comes to international trade, the HS Code plays a crucial role in identifying and categorizing products. It helps in determining the customs duties, taxes, and regulations that apply to specific goods. The HS Code 84073405 is used to classify and track the import and export of spark-ignition reciprocating piston engines used in agricultural tractors.
One important aspect to note is the bound and MFN (Most Favored Nation) duty rate associated with this HS Code. The bound duty rate refers to the maximum customs duty that a country can impose on this product. On the other hand, the MFN duty rate is the rate applied to imports from most favored nations. In the case of HS Code 84073405, the MFN duty rate is free. This means that there are no customs duties imposed on the import of these engines.
Furthermore, there are special tariff preference programs that provide additional benefits for importing countries. For HS Code 84073405, the following special tariff preference programs apply:
Considering the importing states in the United States, Nebraska is the primary state for the import of HS Code 84073405. Other states like Alabama, Kentucky, Michigan, Missouri, Ohio, and South Carolina also import these engines. On the other hand, Maine, Wisconsin, Alabama, Michigan, Ohio, Tennessee, and West Virginia are the primary exporting states for these engines.
the HS Code 84073405 is specifically assigned to spark-ignition reciprocating piston engines used in agricultural tractors with a cylinder capacity over 1000 cc to 2000 cc. It is important to understand the HS Code and its associated regulations when engaging in international trade. The duty rates and special tariff preference programs mentioned above provide valuable information for importers and exporters of these engines.