HS Code 82075080: Interchangeable Tools for Drilling
Interchangeable tools play a crucial role in various industries, making tasks more efficient and precise. One such category of interchangeable tools is those used for drilling, excluding rock drilling. These tools are specifically designed for drilling purposes and are not suitable for cutting metal. Additionally, they are composed of base metal parts. In the international trade market, these tools are classified under HS code 82075080.
HS codes, also known as Harmonized System codes, are internationally recognized codes used to classify products for customs and trade purposes. They ensure a standardized classification system that is used by all countries participating in global trade. The HS code 82075080 specifically refers to interchangeable tools for drilling, excluding rock drilling, that are not suitable for cutting metal, and are made of base metal parts.
When importing or exporting goods classified under HS code 82075080, it is essential to understand the associated duties and tariffs. The bound or most-favored-nation (MFN) duty rate for these tools is 2.9%. The MFN duty rate applies every time a country lowers a trade barrier or opens up a market. It ensures that all trading partners are treated equally when it comes to the import or export of the same goods or services.
The quantity unit for HS code 82075080 is not applicable, as no units are collected. This implies that the measurement of these tools is not determined by a specific quantity unit.
In terms of special tariff preference programs, goods classified under HS code 82075080 can benefit from various preferential treatment options. Free trade agreements and programs allow for reduced or eliminated tariffs on specific goods. For HS code 82075080, the following special tariff preference programs apply:
- Generalized System of Preferences (GSP): This program provides duty-free treatment for eligible countries, including Australia (AU), Bahrain (BH), Canada (CA), Chile (CL), European Union (E), Israel (IL), Japan (J), Jordan (JO), Morocco (MA), Mexico (MX), Oman (OM), Peru (P), Singapore (SG), and the United States (US).
- Australia Special Rate: Australia has a special rate for goods classified under HS code 82075080, offering preferential treatment in terms of tariffs.
- Bahrain Special Rate: Bahrain also provides a special rate for these tools, ensuring favorable trade conditions.
- NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), Canada grants duty-free treatment for goods classified under HS code 82075080.
- Chile Special Rate: Chile offers a special rate for these tools, providing a competitive advantage in the Chilean market.
- Caribbean Basin Initiative (CBI): This initiative grants duty-free treatment for goods exported from eligible countries to the United States, including those classified under HS code 82075080.
- Israel Special Rate: Israel offers duty-free treatment for goods classified under HS code 82075080, promoting trade between Israel and other countries.
- Andean Trade Preference Act (ATPA): This program provides preferential treatment for goods from Andean countries, including those classified under HS code 82075080.
- Jordan Special Rate: Jordan offers a special rate for these tools, facilitating trade with other countries.
- Morocco Special Rate: Morocco provides preferential treatment in terms of tariffs for goods classified under HS code 82075080.
- NAFTA for Mexico: Similar to Canada, Mexico grants duty-free treatment under NAFTA for goods classified under HS code 82075080.
- Oman Special Rate: Oman offers a special rate for these tools, promoting trade with other countries.
- Dominican Republic-Central American Special Rate (DR-CAFTA): This special rate applies to goods exported from the Dominican Republic and Central American countries, providing preferential treatment for goods classified under HS code 82075080.
- Peru Special Rate: Peru offers a special rate for these tools, ensuring favorable trade conditions.
- Singapore Special Rate: Singapore provides preferential treatment in terms of tariffs for goods classified under HS code 82075080.
HS code 82075080 refers to interchangeable tools for drilling, excluding rock drilling, that are not suitable for cutting metal and are composed of base metal parts. Understanding the associated duties and special tariff preference programs is essential for importers and exporters dealing with these tools. By leveraging the available preferential treatment options, businesses can enhance their competitiveness in the global market and promote international trade.
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