Wrist watches have been an essential accessory for both men and women for centuries. They not only serve the purpose of telling time but also add a touch of style and elegance to any outfit. The HS Code 91012920 specifically refers to wrist watches with cases made of or clad with precious metals, which are not electrically operated and do not have automatic winding. These watches also contain 2-7 jewels in their movement, adding to their value and precision.
The HS Code system is an international standard for classifying traded products. It helps in identifying and categorizing goods for customs and trade purposes. The HS Code 91012920 enables customs officials to easily identify and classify wrist watches with specific characteristics, allowing for efficient import and export procedures.
When importing wrist watches with the HS Code 91012920 into the United States, it is essential to consider the duty rates. The bound or most-favored-nation (MFN) duty rate for these watches is 61 cents each, with an additional 4.4% on the case and strap, band, or bracelet. It is important to note that duty rates may vary based on trade agreements and policies between countries.
Under special tariff preference programs, wrist watches with the HS Code 91012920 may qualify for duty-free treatment in various countries. Some of these countries include Australia, Bahrain, Canada (under NAFTA), Chile, Denmark, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and many others. These preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating tariffs on specific goods.
It is worth mentioning that the HS Code 91012920 is accompanied by a quantity unit of "number" (NO). This unit indicates that the quantity of wrist watches is measured in individual pieces rather than weight or volume.
When it comes to importing wrist watches with the HS Code 91012920 into the United States, the exporting US states may vary. The specific states from which these watches are exported depend on various factors such as production facilities, distribution networks, and trade agreements. Some of the major exporting US states for wrist watches include California, New York, Texas, Florida, and Illinois.
the HS Code 91012920 represents wrist watches with cases made of or clad with precious metals, not electrically operated, and without automatic winding. These watches are equipped with 2-7 jewels in their movement, ensuring accuracy and precision. Understanding the HS Code system and the relevant duty rates, as well as special tariff preference programs, is crucial for smooth import and export processes. By complying with trade regulations and taking advantage of preferential trade agreements, businesses can benefit from reduced tariffs and enhanced market access for their wrist watches.