Electrical transformers play a crucial role in the efficient transmission and distribution of electrical power. These devices are responsible for converting electricity from one voltage level to another, allowing it to be transmitted over long distances and used in various applications. One specific type of electrical transformer is covered by HS Code 85043400, which pertains to transformers other than liquid dielectric, with a power handling capacity exceeding 500 kVA.
The HS Code 85043400 is an internationally recognized classification system used to identify and categorize specific products for customs and trade purposes. This code helps facilitate the smooth movement of goods across borders by providing a standardized system for classifying and tracking products.
The product covered by HS Code 85043400 refers to electrical transformers that are not filled with liquid dielectric and have a power handling capacity exceeding 500 kilovolt-ampere (kVA). These transformers are commonly used in power generation, transmission, and distribution systems, as well as in industrial, commercial, and residential settings.
Transformers are essential for maintaining a consistent voltage level and ensuring the safe and efficient delivery of electricity to end-users. They play a vital role in stepping up or stepping down voltage levels to match the requirements of electrical equipment and appliances.
The bound / MFN (Most Favored Nation) duty rate for HS Code 85043400 is 1.6%. 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 duty rate is a percentage applied to the customs value of the imported goods and is collected to generate revenue for the importing country.
Various special tariff preference programs offer specific benefits and exemptions for products falling under HS Code 85043400. These programs aim to promote trade and economic development between countries. Some of the special tariff preference programs applicable to this HS Code include:
These special tariff preference programs aim to reduce trade barriers and promote economic cooperation between countries, benefiting both importers and exporters.
Based on available data, the following US states have been identified as importing HS Code 85043400:
These states are likely importing electrical transformers covered by HS Code 85043400 for various purposes, such as infrastructure development, industrial projects, and electricity generation and distribution.
On the other hand, the following US states have been identified as exporting HS Code 85043400:
These states are likely manufacturing or producing electrical transformers covered by HS Code 85043400 and exporting them to meet the demand in domestic and international markets.
HS Code 85043400 pertains to electrical transformers other than liquid dielectric, with a power handling capacity exceeding 500 kVA. This code helps facilitate international trade by providing a standardized classification system for customs and trade purposes. Importers and exporters of electrical transformers can benefit from special tariff preference programs and must adhere to the bound / MFN duty rate. Understanding the details and implications of HS Code 85043400 is crucial for businesses involved in the import and export of electrical transformers.