HS Code 91021960: Wrist Watches with Optoelectronic and Mechanical Displays
Wrist watches have become an essential accessory for many individuals around the world. They not only serve the purpose of telling time but also add a touch of style and elegance to one's overall appearance. The HS code 91021960 specifically refers to wrist watches that are electrically operated and feature both optoelectronic and mechanical displays. These watches are further characterized by having over 1 jewel and a band made of textile material or base metal.
When it comes to international trade, it is important to understand the specific regulations and duties associated with importing or exporting goods. The bound or most-favored-nation (MFN) duty rate for wrist watches with the HS code 91021960 is 57 cents each, with additional percentages applied to the case, strap, band or bracelet, and the battery.
In order to promote fair trade practices, countries are expected to provide the same treatment to all their trading partners when it comes to lowering trade barriers or opening up markets. This principle ensures that goods or services from different countries are not subject to discriminatory practices. It is important for exporters and importers of wrist watches with the HS code 91021960 to be aware of these regulations to facilitate smooth international trade.
The quantity unit for this particular HS code is measured in numbers (NO), indicating the number of wrist watches being imported or exported. This unit is used to determine the quantity of goods involved in the trade transaction.
In terms of tariff preference programs, wrist watches with the HS code 91021960 are eligible for various special rates and duty-free treatments. Some of the countries that offer these preferences include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and several countries under the Africa Growth and Opportunity Act (AGOA) and the Caribbean Basin Initiative (CBI). These preferential programs aim to promote economic growth and trade partnerships between countries.
When it comes to importing wrist watches with the HS code 91021960 into the United States, certain states have been identified as key destinations. These states include Hawaii, New York, and the Virgin Islands. Exporting from the United States to other countries is not specified in the available data.
wrist watches with the HS code 91021960 are a popular and sought-after product in the international market. Understanding the specific regulations, duties, and preferential programs associated with this HS code is crucial for businesses and individuals involved in the import and export of these watches. By staying informed and compliant with trade regulations, stakeholders can ensure a smooth and successful international trade experience.
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