Machine Tools [Chapter 84]
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Customs exemption for specified machine tools reduces duty on certain tariff headings while preserving other existing exemptions.
Exempts specified machine tools under designated tariff headings from customs duty in excess of reduced ad valorem rates set in the notification, preserving any exemption under other notifications. It establishes three bands: a list of precision and specialized machines at a reduced ad valorem rate of thirty-five percent; a list of general-purpose lathes, milling, drilling, sawing and press machinery at one hundred and ten percent; and a residual category of other goods at seventy-five percent, thereby altering the customs duty leviable on import for those items.