HS Code 91021125 - Wrist watches nesoi, electrically operated, mechanical display only, 0-1 jewel, case nesoi, with band of textile material or base metal
Wrist watches are a popular accessory that not only tell time but also serve as a fashion statement. The HS Code 91021125 refers to a specific type of wrist watch that is electrically operated, has a mechanical display, and contains 0-1 jewel. This type of watch also has a case made of material not elsewhere specified (nesoi) and a band made of textile material or base metal.
When it comes to international trade, countries impose certain duties on imported goods to protect domestic industries and regulate trade. The bound or Most Favored Nation (MFN) duty rate for HS Code 91021125 is 40 cents each, with additional percentages applied to the case, strap, band, or bracelet, as well as the battery. The specific rates are 8.5% on the case, 14% on the strap, band, or bracelet, and 5.3% on the battery.
It is important to note that trade barriers can be lowered or markets can be opened up, but this must be done equally for all trading partners. This principle ensures fair and equal treatment in international trade.
The quantity unit for HS Code 91021125 is a number (NO), indicating that the quantity is measured in individual units of wrist watches.
However, there are special tariff preference programs in place for this HS Code. In certain countries, importers can benefit from duty-free treatment or reduced duty rates. For example, Australia, Bahrain, Canada (under NAFTA), Denmark, Egypt, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and others offer duty-free treatment or reduced duty rates on these wrist watches. The specific rates for these countries are 5 cents each, with additional percentages applied to the case, strap, band, or bracelet, and the battery. These additional rates are 1% 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 importers of HS Code 91021125. These states include Hawaii, New York, and the Virgin Islands. These states have a demand for these wrist watches and import them from various countries.
On the other hand, the exporting states within the United States for HS Code 91021125 are exclusively the Virgin Islands. This suggests that the Virgin Islands are the main source of these wrist watches for the United States.
HS Code 91021125 pertains to wrist watches that are electrically operated, have a mechanical display, and feature a case made of material not elsewhere specified. The watch bands are made of textile material or base metal. Various duty rates are applicable, but certain countries offer duty-free treatment or reduced rates for these wrist watches. Importing states in the United States include Hawaii, New York, and the Virgin Islands, while the Virgin Islands serve as the primary exporting state for this HS Code.
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