The HS Code 91021130: A Comprehensive Guide to Wrist Watches
Wrist watches are a timeless accessory that have become an integral part of our daily lives. They not only serve the practical purpose of telling time but also reflect our personal style and taste. In this article, we will explore the HS Code 91021130, which specifically refers to wrist watches that are electrically operated, have a mechanical display only, and contain 0-1 jewel. These watches also have a gold- or silver-plated case, along with a band made of material not elsewhere specified.
The HS Code 91021130 is an essential classification code used in international trade to identify and categorize specific products. It helps customs authorities and traders to streamline the import and export process by providing a standardized system for classification. By assigning a unique code to each product, the HS Code ensures uniformity and consistency in international trade transactions.
When it comes to the importation of wrist watches falling under HS Code 91021130, certain duty rates apply. The bound or most favored nation (MFN) duty rate for these watches is 44 cents each, with additional charges of 6% on the case, 2.8% on the strap, band, or bracelet, and 5.3% on the battery. It is important to note that these rates may vary depending on the country and any applicable trade agreements.
Speaking of trade agreements, there are special tariff preference programs that provide certain countries with preferential treatment when importing wrist watches under HS Code 91021130. For countries such as Australia, Bahrain, Canada, Denmark, Egypt, Israel, Japan, Jordan, Morocco, Mexico, Oman, Peru, Singapore, and others, these watches can be imported duty-free or at reduced rates. The specific rates for each country may vary, but generally, there is a 5.5% charge on each watch, along with additional charges on the case, strap, band, or bracelet, and battery.
In the United States, the importation of wrist watches falling under HS Code 91021130 is particularly notable in states such as Hawaii, New York, and the Virgin Islands. These states have a higher demand for wrist watches, making them key importers of this product category. The popularity of wrist watches in these states can be attributed to their vibrant fashion scenes, luxury markets, and tourism industries.
On the other hand, the exporting of wrist watches under HS Code 91021130 from the United States is not specifically mentioned in the provided data. However, it is safe to assume that the Virgin Islands are a significant destination for these watches, considering their high importation rate.
the HS Code 91021130 represents a specific category of wrist watches that are electrically operated, have a mechanical display only, and include a gold- or silver-plated case with a band made of material not elsewhere specified. This code allows for the standardized classification, importation, and exportation of these watches in international trade. With varying duty rates and special tariff preference programs, it is essential for traders and importers to understand the regulations and potential benefits associated with this HS Code. Whether you are a watch enthusiast, a trader, or a consumer, the HS Code 91021130 sheds light on the intricate world of wrist watches and the global trade that surrounds them.
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