The HS Code 84789000 refers to parts of machinery used for preparing or making up tobacco. This code is used to classify and categorize these specific parts for import and export purposes. Understanding the HS code system is essential for international trade as it allows for the proper identification and classification of goods.
When it comes to trade barriers and market access, the MFN (Most Favored Nation) principle ensures that every country must provide the same treatment to all its trading partners. This means that when 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. The bound/MFN duty rate for HS Code 84789000 is free, indicating that there are no duties or tariffs imposed on the import or export of these parts.
The quantity unit for HS Code 84789000 is stated as "no units collected (X)." This implies that there is no specific measurement unit associated with the parts of machinery for preparing or making up tobacco. The absence of a quantity unit suggests that the classification and value of these parts may vary depending on their specific function and purpose within the tobacco production process.
There are several special tariff preference programs associated with HS Code 84789000. These programs provide additional benefits and exemptions for specific countries when trading these parts. The countries that enjoy free trade under these programs include Australia, Bahrain, Canada (under NAFTA), Chile, European Union member states, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and certain countries within the Caribbean Basin Initiative (CBI).
The Generalized System of Preferences (GSP) grants duty-free treatment to eligible countries, allowing them to import and export goods without incurring additional duties or tariffs. Australia and Bahrain have special rates under this program, providing even more favorable trading conditions for HS Code 84789000. NAFTA (North American Free Trade Agreement) also offers duty-free treatment for Canada and Mexico when trading these parts.
Other special rates and programs, such as the Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Morocco Special Rate, and Oman Special Rate, further enhance the trade opportunities for HS Code 84789000. These programs aim to promote international cooperation and stimulate economic growth between the participating countries.
It is important for importers and exporters to be aware of these special tariff preference programs as they can significantly impact the cost and competitiveness of trading these parts. By taking advantage of the duty-free treatment and special rates offered under these programs, businesses can optimize their supply chains and maximize their profit margins.
HS Code 84789000 represents parts of machinery used for preparing or making up tobacco. The code is associated with a free duty rate, indicating that there are no tariffs or duties imposed on the import or export of these parts. Additionally, there are various special tariff preference programs that grant additional benefits and exemptions for specific countries, further facilitating international trade in HS Code 84789000.