Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 84624900: Punch/Notch Machines for Working Metal or Metal Carbides

When it comes to working with metal or metal carbides, one essential tool to have is a punch/notch machine. These machines, including presses and combined punch & shear machines, are used to create holes or notches in metal materials. The HS Code 84624900 specifically refers to punch/notch machines that are not numerically controlled.

Understanding the HS Code is crucial for international trade. It is a standardized system used by customs authorities worldwide to classify products. The HS Code 84624900 helps identify and categorize punch/notch machines for import and export purposes, ensuring smooth international trade transactions.

The product description provided for HS Code 84624900 clearly mentions that these machines are designed for working with metal or metal carbides. Their primary function is to create precise holes or notches in these materials, which is essential in various industries such as manufacturing, construction, and metalworking.

When importing or exporting punch/notch machines under HS Code 84624900, it is important to understand the associated duties and tariff rates. The bound or most favored nation (MFN) duty rate for these machines is 4.4%. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.

The quantity unit for punch/notch machines under HS Code 84624900 is measured in numbers (NO). This indicates that the quantity of these machines is counted individually rather than by weight or volume.

There are also special tariff preference programs that provide exemptions or reduced duty rates for punch/notch machines under HS Code 84624900. Some of these programs include:

• Generalized System of Preferences (GSP): Provides duty-free treatment for eligible countries.
• Australia Special Rate: Offers a special rate for imports from Australia.
• Bahrain Special Rate: Offers a special rate for imports from Bahrain.
• NAFTA for Canada: Provides duty-free treatment for imports from Canada under the North American Free Trade Agreement.
• Chile Special Rate: Offers a special rate for imports from Chile.
• Caribbean Basin Initiative (CBI): Provides duty-free treatment for eligible countries in the Caribbean region.
• Israel Special Rate: Offers duty-free treatment for imports from Israel.
• Andean Trade Preference Act (ATPA): Provides duty-free treatment for eligible countries in the Andean region.
• Jordan Special Rate: Offers a special rate for imports from Jordan.
• Morocco Special Rate: Offers a special rate for imports from Morocco.
• NAFTA for Mexico: Provides duty-free treatment for imports from Mexico under the North American Free Trade Agreement.
• Oman Special Rate: Offers a special rate for imports from Oman.
• Dominican Republic-Central American Special Rate (DR-CAFTA): Provides duty-free treatment for eligible countries in the Dominican Republic-Central America Free Trade Agreement.
• Peru Special Rate: Offers a special rate for imports from Peru.
• Singapore Special Rate: Offers a special rate for imports from Singapore.

These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties for certain goods.

Importing and exporting punch/notch machines under HS Code 84624900 involves various US states as importers and exporters. These machines are essential for industries across the country, and their import/export contributes to economic growth and development.

punch/notch machines classified under HS Code 84624900 are vital tools for working with metal or metal carbides. Understanding the HS Code, associated duties, and special tariff preference programs is essential for importers, exporters, and customs authorities to facilitate smooth international trade transactions.