HS Code 84589150 refers to a specific type of lathe machine that is used for removing metal and is numerically controlled. This code is used for classifying and categorizing this particular type of lathe in international trade.
The product description for HS Code 84589150 is "Lathes (including turning centers), other than horizontal or vertical turret lathes, for removing metal, numerically controlled." This description provides a clear understanding of the scope and purpose of the product covered by this code.
When it comes to import and export duties, the bound or most-favored-nation (MFN) duty rate for HS Code 84589150 is 4.4%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate applies to the import and export of this specific type of lathe machine.
The quantity unit for HS Code 84589150 is "number" (NO), indicating that the unit of measurement for this product is a count of individual lathes. This provides clarity on how the product is measured and counted in trade transactions.
There are also special tariff preference programs available for HS Code 84589150. These programs provide certain countries with preferential treatment or duty-free access for importing and exporting this product. The countries included in these programs are:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved by reducing or eliminating import duties for HS Code 84589150. This can incentivize trade and facilitate the movement of these lathe machines across borders.
In terms of specific importing and exporting states within the United States, New Hampshire is one of the states involved in the trade of HS Code 84589150. This information can be useful for businesses and individuals in New Hampshire who are interested in importing or exporting this product.
Overall, HS Code 84589150 is an important code for identifying and classifying a specific type of lathe machine used for removing metal and controlled by numerical systems. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this code can help businesses navigate international trade and take advantage of available trade benefits.