Electromechanical tools for working in the hand, other than drills or saws, with self-contained electric motor fall under HS Code 84672900. This code is used to classify and categorize these specific types of tools for import and export purposes. In this article, we will explore the product description, duty rates, special tariff preference programs, and the states involved in importing and exporting these tools.
HS Code 84672900 covers a wide range of electromechanical tools that are designed for handheld use. However, it excludes drills and saws. These tools are equipped with a self-contained electric motor, which provides the necessary power for their operation. They are commonly used in various industries such as construction, manufacturing, and maintenance.
When importing or exporting goods, duty rates play a crucial role in determining the cost and feasibility of trade. The bound or Most Favored Nation (MFN) duty rate for HS Code 84672900 is free. This means that there are no specific duty charges imposed on these tools. Whenever 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.
Several special tariff preference programs apply to HS Code 84672900, providing certain countries with preferential treatment. These programs allow for duty-free treatment or reduced duty rates for eligible products. The following countries benefit from these programs:
These programs aim to promote trade and economic cooperation between countries by reducing or eliminating trade barriers for specific goods or services. HS Code 84672900 benefits from these programs, making it easier and more cost-effective for eligible countries to import or export these tools.
When it comes to importing and exporting HS Code 84672900 goods, certain US states are involved. The importing states for these tools include Wisconsin, South Carolina, and Wyoming. On the other hand, the exporting state is mainly New Hampshire, with Mississippi also being involved.
These states play a crucial role in facilitating the trade of electromechanical tools for working in the hand. Importing states receive these tools from other countries, while exporting states contribute to the global market by shipping these tools to other countries.
Overall, HS Code 84672900 encompasses a wide range of electromechanical tools for handheld use. It is important to understand the product description, duty rates, special tariff preference programs, and the states involved in importing and exporting these tools. By having a comprehensive understanding of the HS code and its associated details, businesses and traders can navigate the international trade market more efficiently and effectively.