The HS Code 82078060 refers to interchangeable tools for turning, nesoi (not elsewhere specified or included), and the base metal parts used in these tools. This code is part of the Harmonized System (HS) which is an internationally recognized system for classifying goods in international trade. HS codes are used by customs authorities to determine the appropriate tariffs, duties, and regulations for imported and exported goods.
Interchangeable tools for turning are essential for various industries, including manufacturing, engineering, and construction. These tools are used for shaping and machining metal components, such as drilling, cutting, and turning. They are designed to be easily interchangeable, allowing for flexibility and efficiency in different machining processes.
The base metal parts included in this HS code are the components that make up these interchangeable tools. These parts are typically made of materials like steel, iron, or other alloys. They provide the necessary strength, durability, and precision required for effective metal machining.
When importing goods classified under HS Code 82078060 into the United States, the importers are subject to a bound or most-favored-nation (MFN) duty rate of 3.7%. The MFN duty rate is the standard tariff rate applied to goods from all trading partners, ensuring equal treatment for all countries. However, there are special tariff preference programs available for certain countries, allowing for duty-free treatment.
The following countries are eligible for special tariff preference programs under HS Code 82078060:
These special tariff preference programs aim to promote economic cooperation and encourage trade between the United States and these partner countries. By providing duty-free treatment, they reduce the cost of imported goods and increase competitiveness for businesses.
It is important for importers and exporters to accurately classify their goods using the appropriate HS code to ensure compliance with customs regulations and to take advantage of any available tariff preferences. Failure to do so may result in delays, penalties, or higher duties.
HS Code 82078060 encompasses interchangeable tools for turning, nesoi, and the base metal parts used in these tools. This code is significant for industries relying on metal machining processes. Importers should be aware of the MFN duty rate and the special tariff preference programs available for eligible countries. By understanding and correctly applying the HS code, businesses can navigate international trade more effectively and benefit from the opportunities provided by these programs.