HS Code 84471290: Circular Knitting Machines with Cylinder Diameter Exceeding 165mm
Circular knitting machines play a crucial role in the textile industry, enabling the production of a wide range of knitted fabrics. Among the various types of circular knitting machines, HS Code 84471290 specifically refers to those with a cylinder diameter exceeding 165mm, but excluding machines used for knitting hosiery.
When it comes to international trade, understanding the HS code and its implications is essential. The HS code system is a standardized method of classifying products for customs and statistical purposes. It helps ensure uniformity in trade documentation and facilitates the smooth flow of goods across borders. In the case of HS Code 84471290, it enables customs officials and traders to identify and categorize circular knitting machines accurately.
Under the World Trade Organization (WTO) agreements, countries are encouraged to lower trade barriers and open up their markets. As a result, the bound or most-favored-nation (MFN) duty rate for HS Code 84471290 is set to be free. This means that whenever a country reduces trade barriers or grants preferential treatment to a particular product, it must extend the same benefits to all its trading partners. Therefore, the import duty rate for circular knitting machines with a cylinder diameter exceeding 165mm, excluding hosiery knitting machines, is effectively zero.
It is important to note that special tariff preference programs can also impact the import duty rate for HS Code 84471290. Several countries have established preferential trade agreements or programs that provide additional benefits for certain goods. In the case of this HS code, the following special tariff preference programs apply:
- Generalized System of Preferences (GSP): Provides duty-free treatment for eligible products.
- Australia Special Rate: Offers special tariff rates for imports from Australia.
- Bahrain Special Rate: Provides preferential tariff treatment for imports from Bahrain.
- NAFTA for Canada: Allows duty-free treatment for imports from Canada under the North American Free Trade Agreement.
- Chile Special Rate: Grants special tariff rates for imports from Chile.
- Caribbean Basin Initiative (CBI): Provides preferential treatment for eligible imports from designated Caribbean countries.
- Israel Special Rate: Offers duty-free treatment for imports from Israel.
- Andean Trade Preference Act (ATPA): Provides preferential treatment for eligible imports from designated Andean countries.
- Jordan Special Rate: Grants special tariff rates for imports from Jordan.
- Morocco Special Rate: Provides preferential tariff treatment for imports from Morocco.
- NAFTA for Mexico: Allows duty-free treatment for imports from Mexico under the North American Free Trade Agreement.
- Oman Special Rate: Offers special tariff rates for imports from Oman.
- Dominican Republic-Central American Special Rate (DR-CAFTA): Provides preferential treatment for eligible imports from designated countries in Central America and the Dominican Republic.
- Peru Special Rate: Grants special tariff rates for imports from Peru.
- Singapore Special Rate: Offers special tariff rates for imports from Singapore.
These special tariff preference programs can significantly reduce or eliminate import duties for circular knitting machines falling under HS Code 84471290, depending on the origin and destination of the goods.
In terms of the quantity unit, circular knitting machines are typically measured in numbers (NO). This unit indicates the number of machines being imported or exported.
The data suggests that the United States is a significant importer of circular knitting machines with cylinder diameters exceeding 165mm. Importing states such as California, Kentucky, Mississippi, New Hampshire, New Jersey, Tennessee, and Virginia have a notable demand for these machines. On the other hand, Colorado, New Hampshire, and Virginia are the major states exporting circular knitting machines falling under HS Code 84471290.
HS Code 84471290 refers to circular knitting machines with a cylinder diameter exceeding 165mm, excluding hosiery knitting machines. It is essential for traders and customs officials to understand this HS code and its implications for international trade. The bound or MFN duty rate for this HS code is free, meaning it is duty-free for all trading partners. However, additional benefits can be obtained through special tariff preference programs established by various countries. The import and export of circular knitting machines falling under this HS code are significant in the United States, with several states showing high demand and export capacity.
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