Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 82073060: Interchangeable Tools for Pressing, Stamping or Punching

Interchangeable tools for pressing, stamping, or punching play a crucial role in various industries. These tools are essential for shaping, designing, and manufacturing a wide range of products. HS Code 82073060 specifically refers to interchangeable tools for pressing, stamping, or punching, which are not suitable for cutting metal, along with their base metal parts.

The HS code system is an internationally recognized classification system for traded goods. It allows countries to classify products based on their nature, function, or purpose. HS Code 82073060 helps customs authorities, importers, and exporters to easily identify and categorize these specific tools for trade purposes.

The bound or Most Favored Nation (MFN) duty rate for HS Code 82073060 is 2.9%. The MFN principle states that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate applies to all countries unless there are specific tariff preference programs in place.

However, there are several special tariff preference programs that provide duty-free treatment for imports of HS Code 82073060. These programs include:

• Generalized System of Preferences (GSP): This program grants duty-free treatment for eligible products from developing countries.
• Australia Special Rate: Australia has a special rate agreement for certain products, including those falling under HS Code 82073060.
• Bahrain Special Rate: Bahrain offers a special rate for specific products, allowing duty-free importation.
• NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), Canada enjoys duty-free treatment for imports of HS Code 82073060.
• Chile Special Rate: Chile has a special rate agreement that exempts certain products, including those falling under this HS Code, from import duties.
• Caribbean Basin Initiative (CBI): The CBI provides duty-free treatment for eligible products from designated Caribbean countries.
• Israel Special Rate: Israel offers duty-free treatment for imports of HS Code 82073060 as part of a special rate agreement.
• Andean Trade Preference Act (ATPA): The ATPA grants duty-free treatment for products originating from Andean countries, including those classified under this HS Code.
• Jordan Special Rate: Jordan has a special rate agreement that allows duty-free importation of certain products, including those falling under HS Code 82073060.
• Morocco Special Rate: Morocco offers a special rate for specific products, allowing duty-free importation.
• NAFTA for Mexico: Similar to Canada, Mexico enjoys duty-free treatment for imports of HS Code 82073060 under NAFTA.
• Oman Special Rate: Oman offers a special rate for specific products, allowing duty-free importation.
• Dominican Republic-Central American Special Rate (DR-CAFTA): The DR-CAFTA provides duty-free treatment for eligible products from participating countries.
• Peru Special Rate: Peru has a special rate agreement that exempts certain products, including those falling under this HS Code, from import duties.
• Singapore Special Rate: Singapore offers duty-free treatment for imports of HS Code 82073060 as part of a special rate agreement.

When importing products classified under HS Code 82073060 to the United States, it is important to be aware of the specific tariff preference programs that may apply. These programs can significantly reduce or eliminate the duty burden, making imports more cost-effective.

Similarly, when exporting products classified under HS Code 82073060 from the United States, it is crucial to consider the importing country's tariff preferences and any applicable free trade agreements. This knowledge can help businesses optimize their export strategies and remain competitive in international markets.

HS Code 82073060 represents interchangeable tools for pressing, stamping, or punching, along with their base metal parts. Understanding the associated duty rates and tariff preference programs can greatly benefit importers and exporters, ensuring efficient trade and cost savings.