The HS Code 91022925: A Comprehensive Guide to Wrist Watches
Wrist watches have become an essential accessory in today's fast-paced world. They not only serve the purpose of telling time but also add a touch of style to any outfit. In this article, we will delve into the details of HS Code 91022925, which covers wrist watches that are not electrically operated, non-automatic, and have a movement size not exceeding 15.2 mm. These watches also feature a band made of textile material or base metal.
HS Code 91022925 is used to classify wrist watches that fall under this specific description. This code is an internationally recognized system used for the classification of goods in international trade. It ensures that products are categorized consistently across different countries, facilitating smooth trade transactions. The HS Code is composed of six digits, with additional digits added for more specific classifications, as seen in this case.
When importing wrist watches under HS Code 91022925 into the United States, certain duties need to be paid. The bound or most-favored-nation (MFN) duty rate for each watch is $2.19, with an additional 4.8% duty on the case and 11.2% duty on the strap, band, or bracelet. It is important to note that these rates may vary depending on the country of origin and any applicable trade agreements.
Speaking of trade agreements, certain special tariff preference programs offer reduced or duty-free rates for wrist watches under HS Code 91022925. For example, countries such as Australia, Bahrain, Canada (under NAFTA), Denmark, Egypt, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, and Singapore offer duty-free treatment. This means that importers from these countries can enjoy significant cost savings when bringing in wrist watches into the United States.
Additionally, specific trade preference programs apply to certain regions or groups of countries. For instance, the Africa Growth and Opportunity Act (AGOA) and the Caribbean Basin Initiative (CBI) offer duty-free treatment to eligible countries in Africa and the Caribbean, respectively. The Andean Trade Preference Act (ATPA) and the Andean Trade Promotion and Drug Eradication Act (ATPDEA) provide preferential treatment to countries in the Andean region, including Bolivia, Colombia, Ecuador, and Peru. The Dominican Republic-Central American Free Trade Agreement (DR-CAFTA) grants special rates to participating countries in the Central American region and the Dominican Republic. Lastly, the Caribbean Basin Trade Partnership Act (CBTPA) offers duty-free treatment to countries in the Caribbean Basin.
It is worth mentioning that while the special tariff preference programs mentioned above offer reduced or duty-free rates, specific conditions must be met to qualify for these benefits. Importers should carefully review the eligibility requirements and documentation needed to take advantage of these programs.
wrist watches falling under HS Code 91022925 are subject to specific duties and may qualify for reduced or duty-free rates under various special tariff preference programs. Importers should consider these factors when engaging in international trade transactions. Understanding the HS Code system and the associated tariff rates can help importers make informed decisions and streamline their import processes.
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