When it comes to household handtools made of iron or steel, HS Code 82055130 is the specific code used to classify and identify these products. This code encompasses various tools used in households, excluding carving and butcher steels, along with their base metal parts.
Understanding the HS code system is essential for trade and customs purposes. HS codes are used globally to classify and categorize goods for import and export. Each code corresponds to a specific product or group of products, providing a standardized way of identifying items and ensuring consistency in trade documentation.
The product description for this HS code states that it includes iron or steel household handtools, such as screwdrivers, pliers, wrenches, hammers, and other common tools found in households. However, it excludes carving and butcher steels, which fall under different classifications.
Importing or exporting goods under HS Code 82055130 may be subject to various duty rates depending on the country and trade agreements in place. The bound or most-favored-nation (MFN) duty rate for this code is 3.7%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate to all its trading partners for the same goods or services.
Some countries have special tariff preference programs in place for products classified under HS Code 82055130. These programs allow for preferential treatment, often in the form of duty-free or reduced-duty rates. The following countries have special tariff preferences for these iron or steel household handtools:
It is important to note that the specific details and eligibility criteria for each special tariff preference program may vary. Importers and exporters should refer to the respective trade agreements or consult with customs authorities to ensure compliance with the applicable regulations and benefits.
As for the quantity unit for HS Code 82055130, it is listed as "not available" (NA). This indicates that the quantity unit may vary depending on the specific tool or part being imported or exported. It is essential for traders to provide accurate quantity information based on the appropriate unit of measurement for their specific products.
HS Code 82055130 covers iron or steel household handtools and their base metal parts. Understanding this code is crucial for importers, exporters, and customs authorities to ensure accurate classification, duty rates, and compliance with trade agreements. The availability of special tariff preference programs further enhances trade opportunities for these products, providing benefits such as duty-free treatment or reduced-duty rates in specific countries.