Wrist watches have been a popular accessory since their invention, and today they come in a wide variety of styles and functionalities. One specific category of wrist watches, identified by the HS Code 91021110, refers to electrically operated watches with a mechanical display. These watches typically have 0-1 jewel, a gold or silver-plated case, and a band made of textile material or base metal.
The HS Code system is an internationally recognized classification system used to categorize products for customs and trade purposes. HS Code 91021110 helps customs authorities and businesses identify and track wrist watches with specific characteristics, facilitating international trade and market analysis.
When it comes to import and export, understanding the HS Code and its associated regulations is crucial. For HS Code 91021110, the bound or most-favored-nation (MFN) duty rate is 44 cents for each watch. Additionally, there is a 6% duty on the case, a 14% duty on the strap, band, or bracelet, and a 5.3% duty on the battery. These duty rates apply whenever a country lowers a trade barrier or opens up a market, ensuring fair and equal treatment for all trading partners.
However, certain special tariff preference programs exist that provide benefits for importing wrist watches with HS Code 91021110. For example, Australia, Bahrain, Canada, Denmark, Spain, Israel, Japan, Jordan, Malaysia, Mexico, Oman, Peru, Singapore, and Switzerland offer duty-free treatment for these watches. Other countries, such as Chile, provide a reduced duty rate of 5.5% on each watch, along with 0.7% on the case, 1.7% on the strap, band, or bracelet, and 0.6% on the battery.
In the United States, specific states have been identified as major importers of wrist watches with HS Code 91021110. These states include Hawaii, New York, and the Virgin Islands. Understanding the importing states can be helpful for businesses looking to target specific markets or establish distribution channels.
While the exporting states within the United States are not specified in the available data, it is important to note that wrist watches with HS Code 91021110 can be exported from any state within the country. The HS Code is a standardized classification system, applicable nationwide, facilitating trade both domestically and internationally.
wrist watches with HS Code 91021110 are electrically operated watches with a mechanical display, featuring a gold or silver-plated case and a band made of textile material or base metal. Understanding the HS Code and its associated regulations is essential for businesses involved in the import and export of these watches. By leveraging special tariff preference programs and targeting specific importing states, businesses can optimize their trade operations and expand their reach in the global market.