In international trade, the Harmonized System (HS) code is used to classify goods and products for customs purposes. HS Code 89039920 specifically refers to vessels, namely outboard motorboats, designed for pleasure or sports activities. This article aims to provide extensive information about this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
HS Code 89039920 encompasses vessels that are equipped with outboard motors and are primarily intended for recreational or sports purposes. These motorboats are designed to provide pleasure and enjoyment on the water, whether it be for fishing, cruising, water sports, or other recreational activities. They come in various sizes and designs, offering different features and functionalities to cater to the preferences of users.
The bound or Most Favored Nation (MFN) duty rate for HS Code 89039920 is 1%. The MFN principle ensures that whenever a country lowers a trade barrier or opens up its market, it must apply the same treatment to all its trading partners for the same goods or services. This duty rate applies uniformly to all importing countries, promoting fair and non-discriminatory trade practices.
The quantity unit for HS Code 89039920 is measured in numbers (NO). This unit represents the count of individual vessels or outboard motorboats being imported or exported.
Several special tariff preference programs are available for products classified under HS Code 89039920. These programs provide preferential treatment in terms of duty rates or duty-free treatment for specific countries. The following are the programs applicable to this HS code:
The following US states are known for importing vessels classified under HS Code 89039920:
These states have a demand for recreational and sports motorboats, likely due to their coastal locations and popularity as tourist destinations. Importers in these states engage in trade activities to fulfill the needs of boating enthusiasts and tourists seeking water-based recreational experiences.
HS Code 89039920 represents vessels, specifically outboard motorboats, designed for pleasure or sports activities. It is important for importers, exporters, and traders to understand the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs. Compliance with customs regulations and taking advantage of preferential trade programs can contribute to a successful and efficient trade in this sector.