HS Code 91022110: Wrist Watches with Textile Material or Base Metal Bands
Wrist watches are a popular accessory that not only tell time but also make a fashion statement. The HS code 91022110 specifically refers to wrist watches that are automatic winding and have 0-1 jewel. These watches come with watch bands made of either textile material or base metal.
When it comes to international trade, import and export regulations play a crucial role. The HS code helps in classifying products for customs and trade purposes. In the case of HS code 91022110, it ensures that wrist watches with specific characteristics are properly categorized and identified.
The bound or MFN (most favored nation) duty rate for wrist watches with this HS code is 75 cents each, with an additional 6% duty on the case and 14% duty on the strap, band, or bracelet. This means that when importing these watches, a certain amount needs to be paid as duty based on their value and composition.
It is important to note that trade barriers can be lowered or markets can be opened up by countries. However, any such action must be applied consistently to all trading partners for the same goods or services. This ensures fair and equal treatment in international trade.
The quantity unit for wrist watches with HS code 91022110 is a number (NO). This means that watches are counted individually, and the quantity of watches being imported or exported is specified in numbers.
There are also special tariff preference programs available for these wrist watches. Some countries, such as Australia, Bahrain, Canada (under NAFTA), Chile, Dominican Republic, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and several others provide duty-free treatment for imports of wrist watches with this HS code. These special rates are part of various trade agreements and preference programs that promote economic cooperation and development.
In terms of importing, certain states in the United States have been listed as destinations for these wrist watches. These states include Hawaii, New York, and the Virgin Islands. This information is relevant for traders and importers who need to ensure that their watches reach the intended markets within the United States.
On the other hand, when it comes to exporting, the Virgin Islands is the specified state for these wrist watches. This means that traders or manufacturers from the Virgin Islands can export these watches to various international destinations.
HS code 91022110 classifies wrist watches with automatic winding, 0-1 jewel, and watch bands made of textile material or base metal. This code helps in properly identifying and categorizing these watches for trade and customs purposes. The duty rates, special tariff preference programs, and information about importing and exporting states provide further insights for businesses involved in the international trade of these wrist watches.
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