| HS Code | Official Doc | Tariff Rate | Origin | Destination | Effective Date |
|---|---|---|---|---|---|
| 7326908688 | Doc | 82.9% | CN | US | 2025-05-12 |
Okay, let's break down the customs classification and duty information for your declared item, "FISHING MAGNET". Here's a detailed analysis, presented in a structured format to help you understand the process:
Customs Classification & Duty Analysis: FISHING MAGNET
Based on the information provided, we have two potential classifications to consider. Let's examine each one:
1. Electromagnets & Permanent Magnets (Potential HS Code: 8505)
- HS Code Breakdown:
- 85: Electrical machinery and equipment, and parts thereof; sound recording or reproducing apparatus, television-image transmission or reproduction apparatus, and parts and accessories of such articles.
- 05: Electromagnets; permanent magnets and articles intended to become permanent magnets after magnetization; electromagnetic or permanent magnet chucks, clamps and similar holding devices; electromagnetic couplings, clutches and brakes; electromagnetic lifting heads; parts thereof.
- Subheading Detail: You've specified "Permanent magnets and articles intended to become permanent magnets after magnetization: Of metal Other". This suggests the magnet is made of metal and isn't specifically excluded by other subheadings within 8505.
- Duty Information: Unfortunately, the provided data doesn't include duty rates for HS Code 8505. We'll need to determine the specific rate based on the magnet's material composition and intended use.
- Important Considerations:
- Material: The exact type of metal (e.g., neodymium, ferrite, alnico) is crucial for determining the correct duty rate. Different metals have different tariffs.
- Strength/Application: The strength of the magnet and its intended application (e.g., industrial lifting, recreational fishing) may influence classification.
2. Other Articles of Iron or Steel (HS Code: 7326.90.86.88)
- HS Code Breakdown:
- 73: Articles of iron or steel.
- 26: Other articles of iron or steel.
- 90: Other.
- 86: Other.
- 88: Other. (This is a very broad "catch-all" category)
- Duty Information:
- Basic Duty: 2.9%
- Additional Duty: 25.0% (currently)
- Post-April 2, 2025: Additional Duty increases to 30% for steel and aluminum products.
- Total Duty: 82.9%
- Important Considerations:
- Material Composition: This HS code is for iron or steel articles. If your magnet contains significant amounts of other metals (e.g., neodymium, cobalt), this classification may not be accurate.
- Functionality: If the magnet's primary function is related to its magnetic properties (e.g., lifting, holding), HS Code 8505 (Electromagnets) is likely more appropriate. HS Code 7326 is generally for iron/steel articles where the magnetic property is secondary.
Recommendation & Next Steps:
Based on the information provided, HS Code 7326.90.86.88 appears to be the more likely classification if the magnet is primarily composed of iron or steel and its magnetic function is not its defining characteristic. However, to ensure accurate classification and avoid potential issues with customs, I strongly recommend the following:
- Confirm Material Composition: Precisely identify all the metals used in the magnet's construction and their percentages.
- Determine Primary Function: Is the magnet being sold as a magnetic holding/lifting device, or is it simply an iron/steel article with magnetic properties?
- Review the General Explanatory Notes (GEN): The GEN provides detailed guidance on interpreting HS codes. Consult the GEN for HS Codes 8505 and 7326 for further clarification.
- Consider a Binding Ruling: If you are unsure about the correct classification, you can request a binding ruling from your local customs authority. This provides a legally binding determination of the correct HS code.
Important Note: Duty rates and regulations are subject to change. Always verify the latest information with your customs broker or local customs authority before importing goods.