When it comes to international trade, various codes are used to classify goods and products. One such code is the HS Code, which stands for Harmonized System Code. The HS Code 84485130 refers to needles for knitting machines other than latch needles or spring-beard needles. In this article, we will explore this HS Code in detail, including its product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 84485130 specifically pertains to needles designed for knitting machines. However, it excludes latch needles or spring-beard needles. Knitting machines are widely used in the textile industry for producing knitted fabrics, garments, and other textile products. Needles are an essential component of these machines, as they facilitate the interlocking of yarns to create the desired knitted patterns.
It is important to note that latch needles and spring-beard needles have their own separate HS Codes, as they differ in design and functionality. The exclusion of these types of needles in HS Code 84485130 suggests that there are specific codes dedicated to them.
The Bound / MFN (Most Favored Nation) duty rate is an important aspect of international trade. It refers to the rate at which a product is taxed when imported into a country. In the case of HS Code 84485130, the duty rate is stated as "Free." This means that there are no import duties imposed on these needles for knitting machines when they are brought into a country.
It is worth mentioning that the duty rates can vary for different HS Codes, and they can change over time due to trade agreements, negotiations, or changes in national policies. Therefore, it is crucial for traders, importers, and exporters to stay updated with the latest duty rates to ensure compliance and make informed business decisions.
The quantity unit for HS Code 84485130 is expressed in thousand units (THS). This unit is used to measure the quantity or volume of the needles being imported or exported. It provides a standardized measurement for trade data and allows for easy comparison and analysis across different transactions.
When dealing with large quantities of needles for knitting machines, using a thousand units as the quantity unit simplifies the recording and reporting processes. It also helps in establishing consistent trade statistics and tracking the demand and supply patterns of these products.
In addition to the general duty rates, there are also special tariff preference programs that can apply to specific products or regions. These programs aim to promote trade between countries by providing certain benefits or concessions to eligible goods. While the availability and eligibility of these programs may vary, they can significantly impact the cost and competitiveness of imported or exported products.
For HS Code 84485130, there may be special tariff preference programs applicable depending on the countries involved in the trade. These programs can include free trade agreements, regional trade blocs, or preferential trade arrangements. Traders should consult the relevant trade agreements and regulations to determine if any special tariff preference programs can be availed for the import or export of these needles.
HS Code 84485130 relates to needles for knitting machines other than latch needles or spring-beard needles. These needles play a crucial role in the textile industry, facilitating the production of knitted fabrics and garments. Importers and exporters dealing with these needles should be aware of the duty rates, quantity unit, and any special tariff preference programs that may apply.
Understanding the HS Code system and its implications is essential for efficient international trade. By accurately classifying and documenting products according to their respective HS Codes, traders can ensure compliance, optimize costs, and take advantage of any available trade benefits.