HS Code 84472060: Flat Knitting Machines and Stitch-Bonding Machines
Flat knitting machines are a type of textile machinery used in the production of knitted fabrics. The HS Code 84472060 specifically refers to flat knitting machines that are not V-bed or warp machines, as well as stitch-bonding machines.
These machines play a crucial role in the textile industry by automating the process of creating knitted fabrics. They are used in various applications, including the production of garments, accessories, home textiles, and industrial textiles.
The HS Code 84472060 is important for international trade as it helps in the classification and identification of these specific types of knitting machines. It is a standardized system used globally to classify traded products, ensuring consistency and facilitating customs procedures.
When it comes to import and export of flat knitting machines and stitch-bonding machines, it is essential to understand the associated duties and tariff preferences. The bound or most-favored-nation (MFN) duty rate for these machines is free. This means that there are no import duties imposed when trading partners lower trade barriers or open up their markets.
Additionally, there are special tariff preference programs available for these machines. Under these programs, certain countries offer preferential treatment in terms of duty-free imports. The countries that provide these preferential rates for HS Code 84472060 include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, the Dominican Republic (under DR-CAFTA), Peru, and Singapore.
In the United States, the importing states for flat knitting machines and stitch-bonding machines under HS Code 84472060 include California, Kentucky, Mississippi, New Hampshire, New Jersey, Tennessee, and Virginia. These states have a demand for these machines due to the presence of textile industries or manufacturing facilities that require such equipment.
On the other hand, the exporting states for these machines within the United States include Colorado, New Hampshire, and Virginia. These states have companies or manufacturers that specialize in the production of flat knitting machines and stitch-bonding machines, catering to both domestic and international markets.
HS Code 84472060 represents flat knitting machines and stitch-bonding machines, which are vital equipment in the textile industry. Understanding the HS Code and associated tariff preferences is crucial for importers and exporters of these machines. The availability of duty-free treatment and special tariff preference programs can significantly impact the cost and competitiveness of these machines in the global market.
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