HS Code 84624100 - Punch/Notch Machines for Working Metal or Metal Carbides
The HS Code 84624100 refers to punch/notch machines (including presses), including combined punch and shearing machines, that are numerically controlled for working metal or metal carbides. These machines are used in various industries that require precision cutting, shaping, and forming of metal or metal carbide materials.
When a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners. The bound/MFN (Most Favored Nation) duty rate for HS Code 84624100 is 4.4%. This means that countries importing or exporting these machines will be subject to a duty rate of 4.4% of the total value of the goods.
The quantity unit for HS Code 84624100 is measured in numbers (NO). This unit represents the number of punch/notch machines being imported or exported.
There are several special tariff preference programs that provide duty-free treatment for HS Code 84624100. These programs include:
- Generalized System of Preferences (GSP): This program grants duty-free treatment for eligible products from developing countries. Countries such as Australia, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Peru, Singapore, and others are eligible for duty-free import of punch/notch machines under the GSP program.
- Australia Special Rate: Australia has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
- NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), punch/notch machines can be imported duty-free from Canada.
- Chile Special Rate: Chile has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
- Caribbean Basin Initiative (CBI): Punch/notch machines can be imported duty-free from countries participating in the CBI program, such as the Dominican Republic and other Central American countries.
- Israel Special Rate: Israel grants duty-free treatment for imported punch/notch machines.
- Andean Trade Preference Act (ATPA): Punch/notch machines can be imported duty-free from eligible countries under the ATPA program, such as Colombia, Ecuador, and Peru.
- Jordan Special Rate: Jordan has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
- Morocco Special Rate: Morocco has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
- NAFTA for Mexico: Under NAFTA, punch/notch machines can be imported duty-free from Mexico.
- Oman Special Rate: Oman has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
- Dominican Republic-Central American Special Rate (DR-CAFTA): The DR-CAFTA program grants duty-free treatment for punch/notch machines imported from participating countries in the Dominican Republic and Central America.
- Peru Special Rate: Peru has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
- Singapore Special Rate: Singapore has a special rate for import of punch/notch machines, which allows them to be imported duty-free or at a reduced duty rate.
HS Code 84624100 is relevant to both importing and exporting US states. Importing states can benefit from the special tariff preference programs mentioned above, which allow for duty-free or reduced duty import of punch/notch machines. Exporting US states can take advantage of the demand for these machines in international markets and increase their export potential.
HS Code 84624100 represents punch/notch machines used for working metal or metal carbides. These machines are subject to a bound/MFN duty rate of 4.4% and can be imported or exported in the quantity unit of numbers (NO). Various special tariff preference programs provide duty-free treatment for these machines, benefiting both importing and exporting countries. Understanding the HS Code and its associated information is crucial for businesses involved in the import and export of punch/notch machines.
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