The HS Code 90160060 refers to balances (nonelectrical) that have a sensitivity of 5 cg or better. These balances are specifically excluding jewelers' balances, as well as their parts and accessories.
When it comes to trade, countries often impose tariffs or trade barriers to protect their domestic industries. However, to promote fair trade practices, the World Trade Organization (WTO) encourages countries to lower these barriers or open up their markets for the same goods or services from all their trading partners. This is known as the Most Favored Nation (MFN) duty rate. For the HS Code 90160060, the MFN duty rate is 3.3%.
However, there are also special tariff preference programs in place for certain countries. For the HS Code 90160060, the following countries have special tariff preferences:
These special tariff preference programs allow for the import of HS Code 90160060 products from these countries without paying any duties. They include programs like the Generalized System of Preferences (GSP), Caribbean Basin Initiative (CBI), Andean Trade Preference Act (ATPA), and the Dominican Republic-Central American Special Rate (DR-CAFTA).
When it comes to importing the HS Code 90160060 into the United States, the data shows that the following states are involved:
On the other hand, the exporting states for the HS Code 90160060 are:
The HS Code 90160060 is essential for identifying and classifying balances (nonelectrical) with a sensitivity of 5 cg or better, excluding jewelers' balances. Understanding the tariff rates and special tariff preference programs associated with this HS code can help importers and exporters make informed decisions while conducting international trade.