HS Code 91011180: Wrist watches with cases of or clad with precious metal
Wrist watches have always been a popular accessory, not only for their practicality but also for their style and elegance. Among the various types of wrist watches available in the market, those with cases of or clad with precious metal hold a special place. These watches exude luxury and sophistication, making them highly sought after by watch enthusiasts and collectors.
HS Code 91011180 specifically refers to wrist watches with cases of or clad with precious metal that are electrically operated and have a mechanical display only. Additionally, these watches must have more than 1 jewel in their movement. The inclusion of precious metal in the construction of the watch case adds to its value and allure. The mechanical display further enhances the traditional appeal of these timepieces.
When it comes to importing wrist watches with HS Code 91011180 into the United States, specific duty rates apply. The bound or most favored nation (MFN) duty rate is 87 cents each, with an additional 6.25% duty rate on the case and strap, band, or bracelet. Moreover, a 5.3% duty rate is imposed on the battery.
It is important to note that trade barriers and market openings affect the duty rates associated with importing goods. Whenever 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. This principle ensures fair and equal treatment among trading partners.
The quantity unit for wrist watches with HS Code 91011180 is "number" (NO), indicating that these watches are measured and traded individually.
However, certain special tariff preference programs can provide exemptions or reduced duty rates for these wrist watches. In Australia, Bahrain, Canada, Denmark, Israel, Japan, Jordan, Morocco, Mexico, Oman, Peru, Singapore, and other countries, these watches can be imported duty-free or at a reduced rate. For example, the tariff preference program in Australia grants duty-free treatment for these watches. Similarly, the NAFTA agreement allows duty-free treatment for Canada and Mexico.
In the United States, the Virgin Islands is listed as an importing state for wrist watches with HS Code 91011180. This indicates that these watches are either imported directly into the Virgin Islands or transshipped through the Virgin Islands to other destinations. The Virgin Islands' role in the importation of these watches suggests its significance as a trading hub for luxury goods.
On the other hand, the exporting states from the United States for wrist watches with HS Code 91011180 are also listed as the Virgin Islands. This implies that the Virgin Islands plays a crucial role in the re-exportation of these watches, possibly supplying other markets with these sought-after timepieces.
wrist watches with cases of or clad with precious metal under HS Code 91011180 are highly desirable luxury items. Their inclusion of precious metal, mechanical display, and multiple jewels in the movement make them a symbol of elegance and craftsmanship. Importing these watches into the United States entails specific duty rates, while special tariff preference programs can offer exemptions or reduced rates. The Virgin Islands plays a significant role in both the importation and re-exportation of these watches, emphasizing its importance as a trading hub for luxury goods.
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