If you are involved in the manufacturing industry, chances are you have come across the HS code 84803000. In this article, we will delve into the details of this HS code, its product description, duty rates, special tariff preference programs, and the importing and exporting states in the United States.
HS code 84803000 refers to molding patterns. Molding patterns are essential tools used in the manufacturing process of various products. They are typically made from materials such as wood, metal, or plastic and are used to create molds for casting or shaping different objects. Molding patterns play a crucial role in industries such as automotive, aerospace, construction, and consumer goods.
The bound or MFN (Most Favored Nation) duty rate for HS code 84803000 is 2.8%. The MFN duty rate applies every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment.
However, certain special tariff preference programs may exempt specific countries from paying duties for products under HS code 84803000. The following countries are eligible for duty-free treatment:
Each country has a specific special rate or eligibility for duty-free treatment, which may vary based on trade agreements and preferences. For example, NAFTA (North American Free Trade Agreement) provides duty-free treatment for Canada and Mexico for products under HS code 84803000.
Other special tariff preference programs such as the Caribbean Basin Initiative (CBI), Andean Trade Preference Act (ATPA), Dominican Republic-Central American Special Rate (DR-CAFTA), and many more also offer duty-free treatment or reduced rates for specific countries. It is crucial for businesses to understand these programs and take advantage of any applicable benefits.
When it comes to importing products under HS code 84803000 into the United States, the following states have been identified as major importers:
These states play a significant role in the importation of molding patterns, indicating their importance in various industries.
On the other hand, the following states are major exporters of products under HS code 84803000:
These states are actively involved in exporting molding patterns to various countries, contributing to the growth of the manufacturing industry.
HS code 84803000 represents molding patterns, which are essential tools in the manufacturing process. Understanding the duty rates, special tariff preference programs, and the importing and exporting states associated with this HS code is crucial for businesses involved in the production and trade of these products. By staying informed about the regulations and trade agreements, businesses can optimize their operations and take advantage of any available benefits.