HS Code 91012150: Wrist watches with cases of or clad with precious metal, not electrically operated, with automatic winding, with over 17 jewels in mvmt
Wrist watches have been a popular accessory for both men and women for centuries. They not only serve as a functional timekeeping device but also as a fashion statement. The HS Code 91012150 specifically refers to wrist watches with cases made of or clad with precious metal, which adds a touch of luxury and elegance to the timepiece.
The HS Code 91012150 indicates that these wrist watches are not electrically operated but feature automatic winding. This means that the watch is powered by the natural movement of the wearer's wrist, eliminating the need for manual winding. Additionally, these watches are equipped with over 17 jewels in the movement. These jewels serve as bearings, reducing friction and ensuring the smooth running of the watch.
When it comes to international trade, import and export regulations play a significant role. The MFN (Most Favored Nation) duty rate for HS Code 91012150 is free. This means that countries must lower trade barriers or open up their markets for the same goods or services from all trading partners. This encourages fair and equal trade practices among nations.
The quantity unit for HS Code 91012150 is the number (NO), indicating that the unit of measurement for these wrist watches is the individual piece.
In terms of special tariff preference programs, several countries offer preferential treatment for the import of wrist watches with HS Code 91012150. These programs include:
1. Australia Special Rate: Wrist watches with HS Code 91012150 can be imported duty-free into Australia.
2. Bahrain Special Rate: Bahrain also offers duty-free treatment for wrist watches falling under HS Code 91012150.
3. NAFTA for Canada: Under the North American Free Trade Agreement, wrist watches with HS Code 91012150 are eligible for duty-free treatment when imported into Canada.
4. Africa Growth and Opportunity Act (AGOA): Wrist watches with HS Code 91012150 receive duty-free treatment when imported into eligible African countries.
5. Caribbean Basin Initiative (CBI): Wrist watches falling under HS Code 91012150 enjoy duty-free treatment when imported into qualified Caribbean countries.
6. Israel Special Rate: Israel offers duty-free treatment for wrist watches with HS Code 91012150.
7. Andean Trade Preference Act (ATPA) and Andean Trade Promotion and Drug Eradication Act (ATPDEA): Wrist watches falling under HS Code 91012150 receive preferential treatment when imported into eligible Andean countries.
8. Jordan Special Rate: Jordan offers duty-free treatment for wrist watches with HS Code 91012150.
9. Morocco Special Rate: Morocco provides preferential treatment for wrist watches falling under HS Code 91012150.
10. NAFTA for Mexico: Under the North American Free Trade Agreement, wrist watches with HS Code 91012150 qualify for duty-free treatment when imported into Mexico.
11. Oman Special Rate: Oman offers duty-free treatment for wrist watches with HS Code 91012150.
12. Dominican Republic-Central American Special Rate (DR-CAFTA): Wrist watches falling under HS Code 91012150 receive preferential treatment when imported into eligible countries in the DR-CAFTA region.
13. Peru Special Rate: Peru offers duty-free treatment for wrist watches with HS Code 91012150.
14. Caribbean Basin Trade Partnership Act (CBTPA): Wrist watches falling under HS Code 91012150 enjoy duty-free treatment when imported into qualified Caribbean countries.
15. Chile Special Rate: Chile provides preferential treatment for wrist watches with HS Code 91012150.
16. Singapore Special Rate: Singapore offers preferential treatment for wrist watches falling under HS Code 91012150.
It is important to note that the specific duty rates for these preferential programs may vary. However, in general, the duty rate is 20.1% for each wrist watch, with an additional 0.5% applied to the case and strap, band, or bracelet for wrist watches imported into Chile and Singapore.
In terms of importing and exporting, the data provided indicates that the Virgin Islands are involved in the trade of wrist watches with HS Code 91012150.
wrist watches with cases of or clad with precious metal, not electrically operated, with automatic winding, and over 17 jewels in the movement fall under HS Code 91012150. These timepieces exude luxury and elegance. Import and export regulations play a significant role in the trade of these watches, with several countries offering special tariff preference programs and duty-free treatment. The data provided also highlights the involvement of the Virgin Islands in the import and export of wrist watches falling under HS Code 91012150.
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