HS Code 84629980: Machine Tools for Working Metal or Metal Carbides
Machine tools play a crucial role in the manufacturing industry, enabling the shaping, cutting, and drilling of various materials. HS Code 84629980 specifically refers to machine tools for working metal or metal carbides that are not numerically controlled. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity units, and special tariff preference programs.
Product Description:
HS Code 84629980 encompasses non-hydraulic presses and other machine tools used in metalworking processes. These tools are designed for working with metal or metal carbides, providing the necessary force and precision to shape, cut, or form various metal components. It is important to note that the machines covered under this HS code are not numerically controlled, meaning they do not rely on computer programming for operation.
Duty Rates:
The bound or Most Favored Nation (MFN) duty rate for HS Code 84629980 is 4.4%. This rate applies whenever a country lowers a trade barrier or opens up a market, ensuring equal treatment for the same goods or services from all trading partners. It is crucial for importers and exporters to be aware of these duty rates to calculate the cost implications of international trade involving machine tools for working metal or metal carbides.
Quantity Unit:
The quantity unit for HS Code 84629980 is the number (NO). This means that the quantity of machine tools being imported or exported is measured in the number of units. It is important to accurately declare the quantity of goods to comply with customs regulations and ensure smooth trade transactions.
Special Tariff Preference Programs:
Several special tariff preference programs can benefit importers and exporters dealing with machine tools under HS Code 84629980. These programs offer reduced or duty-free treatment for eligible countries. Here are some examples:
- Generalized System of Preferences (GSP): Provides duty-free treatment for eligible countries.
- Australia Special Rate: Offers special tariff rates for trade with Australia.
- Bahrain Special Rate: Provides preferential treatment for trade with Bahrain.
- NAFTA for Canada: Duty-free treatment for trade under the North American Free Trade Agreement (NAFTA) with Canada.
- Chile Special Rate: Special tariff treatment for trade with Chile.
- Caribbean Basin Initiative (CBI): Offers preferential treatment for eligible countries in the Caribbean Basin region.
- Israel Special Rate: Duty-free treatment for trade with Israel.
- Andean Trade Preference Act (ATPA): Provides preferential treatment for eligible countries in the Andean region.
- Jordan Special Rate: Special tariff treatment for trade with Jordan.
- Morocco Special Rate: Offers preferential treatment for trade with Morocco.
- NAFTA for Mexico: Duty-free treatment for trade under NAFTA with Mexico.
- Oman Special Rate: Provides preferential treatment for trade with Oman.
- Dominican Republic-Central American Special Rate (DR-CAFTA): Special tariff treatment for trade with countries in the Dominican Republic-Central America Free Trade Agreement.
- Peru Special Rate: Offers preferential treatment for trade with Peru.
- Singapore Special Rate: Provides special tariff rates for trade with Singapore.
These special tariff preference programs aim to promote trade and strengthen economic ties between countries. Importers and exporters should familiarize themselves with these programs to take advantage of potential cost savings and market access opportunities.
In summary, HS Code 84629980 represents machine tools for working metal or metal carbides that are not numerically controlled. It is important for businesses involved in the import or export of these tools to understand the duty rates, quantity units, and special tariff preference programs associated with this HS code. By staying informed and leveraging the available benefits, businesses can enhance their international trade operations and competitiveness in the market.
More on HS code 84629980
