The HS Code 87114060 refers to motorcycles (including mopeds) and cycles that are fitted with a reciprocating internal-combustion piston engine with a capacity exceeding 700 cc but not exceeding 800 cc. This code is used for classifying and identifying these specific types of vehicles in international trade.
When importing or exporting motorcycles and cycles falling under HS Code 87114060, it is important to understand the relevant regulations, duties, and tariff preferences associated with these products. Let's dive deeper into the details of this HS Code and explore its implications.
The product description for HS Code 87114060 is motorcycles (incl. mopeds) and cycles fitted with a reciprocating internal-combustion piston engine with a capacity exceeding 700 cc but not exceeding 800 cc. This means that the vehicles in question must have an engine that falls within this specified range.
The bound or most-favored-nation (MFN) duty rate for HS Code 87114060 is 2.4%. The MFN duty rate is the rate applied to imports from all trading partners unless a specific trade agreement or tariff preference program is applicable.
It is important to note that when a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This principle ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for HS Code 87114060 is number (NO). This means that the quantity of motorcycles and cycles imported or exported is measured in individual units rather than weight or volume.
Several special tariff preference programs provide specific benefits and exemptions for motorcycles and cycles falling under HS Code 87114060. These programs aim to promote trade, economic development, and cooperation between participating countries. The following is a list of some of the special tariff preference programs applicable to this HS Code:
When it comes to importing motorcycles and cycles falling under HS Code 87114060 into the United States, the data suggests that the state of Utah is the primary importer. On the other hand, the exporting US states for these products are Missouri and Pennsylvania.
Understanding the import and export trends of specific products can provide valuable insights into global trade patterns and economic activity within different regions.
HS Code 87114060 encompasses motorcycles and cycles fitted with a reciprocating internal-combustion piston engine with a capacity exceeding 700 cc but not exceeding 800 cc. This article has provided an extensive overview of the product description, duty rates, quantity unit, special tariff preference programs, and importing/exporting US states associated with this HS Code.
Being aware of the relevant regulations and tariff preferences can help businesses make informed decisions when importing or exporting motorcycles and cycles falling under HS Code 87114060. It is essential to stay updated on any changes in trade policies and take advantage of available trade agreements and programs to optimize international trade operations.