The HS Code 98010030 refers to any aircraft engine or part that is reimported without having advanced or improved while abroad, after temporary substitution for an engine overhauled. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states involved.
The product description for HS Code 98010030 is any aircraft engine or part that is reimported without any advancements or improvements made while abroad. This means that the engine or part has been temporarily substituted for an overhauled engine and is being brought back into the country without any modifications or upgrades.
The bound / MFN duty rate for HS Code 98010030 is free. This means that there are no duties or taxes imposed on the import of this product. Free trade barriers or market openings require countries to apply the same treatment to the same goods or services from all its trading partners. Therefore, the duty rate for this HS code is consistently set at zero.
The quantity unit for HS Code 98010030 is indicated as "no units collected (X)". This means that the specific quantity of the product being imported is not recorded or collected. The "X" symbolizes the absence of a defined quantity unit for this HS code.
Under the special tariff preference programs, HS Code 98010030 is eligible for free trade benefits in several countries. These countries include Australia (Special Rate), Bahrain (Special Rate), Canada (NAFTA - duty-free treatment), Chile (Special Rate), Israel (Special Rate - duty-free treatment), Jordan (Special Rate), Morocco (Special Rate), Mexico (NAFTA - duty-free treatment), Oman (Special Rate), Dominican Republic-Central America (DR-CAFTA), Peru (Special Rate), and Singapore (Special Rate).
These special tariff preference programs allow for the import of aircraft engines or parts under HS Code 98010030 without the imposition of duties or taxes, promoting trade and economic cooperation between the countries involved.
The specific importing and exporting US states involved in the trade of aircraft engines or parts under HS Code 98010030 can vary. As this HS code covers the reimportation of engines or parts that have been temporarily substituted for overhauled engines, it can involve various states depending on the location of the aircraft and the maintenance facilities used.
It is important for importers and exporters in the United States to be aware of the regulations and requirements related to HS Code 98010030 when conducting international trade involving aircraft engines or parts.
HS Code 98010030 encompasses the reimportation of aircraft engines or parts without advancements or improvements made while abroad. It benefits from free duty rates, is not measured in specific quantity units, and is eligible for special tariff preference programs in multiple countries. Importers and exporters should familiarize themselves with the regulations and specific requirements associated with this HS code when engaging in international trade involving aircraft engines or parts.