Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 82074030: Interchangeable Tools for Tapping or Threading

When it comes to international trade, it is important to have a standardized system in place to classify and categorize products. The Harmonized System (HS) is an internationally recognized system used for this purpose. Each product is assigned a unique HS code, which helps in identifying the specific product and its characteristics. In this article, we will delve into the details of HS Code 82074030.

HS Code 82074030 refers to interchangeable tools for tapping or threading, which contain cutting parts with a minimum weight percentage of 0.2% of Chromium (Cr), Molybdenum (Mo), Tungsten (W), or a minimum weight percentage of 0.1% of Vanadium (V). Additionally, this HS code includes the base metal parts of these tools.

Interchangeable tools for tapping or threading are essential in various industries, including manufacturing, construction, and automotive. These tools are used to create internal threads in holes or to cut threads on the outside of cylindrical parts. They play a crucial role in ensuring accurate and efficient threading operations.

When importing or exporting products classified under HS Code 82074030, it is essential to consider the duty rates associated with them. The bound or Most Favored Nation (MFN) duty rate for this HS code is 5.7%. The MFN principle states that whenever 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.

However, there are certain special tariff preference programs that provide exemptions or reduced duty rates for products classified under HS Code 82074030. Some of these programs include:

• Generalized System of Preferences (GSP): This program offers duty-free treatment for eligible products from various countries.
• Australia Special Rate: Australia has a special rate for this HS code, which provides certain benefits for trade with the country.
• Bahrain Special Rate: Bahrain also offers a special rate for products classified under HS Code 82074030.
• NAFTA for Canada: Under the North American Free Trade Agreement, Canada provides duty-free treatment for eligible products from the United States.
• Chile Special Rate: Chile has a special rate for this HS code, offering favorable conditions for trade.
• Caribbean Basin Initiative (CBI): This program provides duty-free treatment for eligible products from designated Caribbean countries.
• Israel Special Rate: Israel offers duty-free treatment for products classified under HS Code 82074030.
• Andean Trade Preference Act (ATPA): This program provides preferential treatment for eligible products from Andean countries.
• Jordan Special Rate: Jordan offers a special rate for products classified under this HS code.
• Morocco Special Rate: Morocco also provides certain benefits for trade involving products classified under HS Code 82074030.
• NAFTA for Mexico: Similar to Canada, Mexico provides duty-free treatment for eligible products under the NAFTA agreement.
• Oman Special Rate: Oman offers a special rate for products classified under this HS code.
• Dominican Republic-Central American Special Rate (DR-CAFTA): This program offers preferential treatment for eligible products from participating Central American countries and the Dominican Republic.
• Peru Special Rate: Peru has a special rate for products classified under HS Code 82074030.
• Singapore Special Rate: Singapore offers duty-free treatment for products classified under this HS code.

When it comes to importing or exporting products classified under HS Code 82074030, it is crucial to comply with the regulations and requirements of the importing and exporting countries. Additionally, it is essential to stay updated with any changes or updates in the duty rates or special tariff programs that may impact trade.

HS Code 82074030 represents interchangeable tools for tapping or threading, which are vital in various industries. Understanding the details of this HS code, including the associated duty rates and special tariff preference programs, is essential for businesses involved in international trade.