HS Code 91022935: A Comprehensive Guide to Wrist Watches
Wrist watches have become an essential accessory in our daily lives. They not only help us keep track of time but also make a fashion statement. In this article, we will delve into the details of the HS Code 91022935, which covers wrist watches that are not electrically operated, non-automatic winding, and have a movement size not exceeding 15.2 mm. These watches also feature a band made of textile material or base metal. Let's explore the various aspects of this HS Code and its implications for international trade.
The HS Code 91022935 is a specific code assigned by the Harmonized System (HS) to classify wrist watches that meet the aforementioned criteria. This code helps customs authorities and traders to identify and classify products accurately for import and export purposes. It ensures that the same classification is used across different countries, promoting consistency and transparency in international trade.
When importing wrist watches under HS Code 91022935, it is important to be aware of the duty rates applicable. The bound or most-favored-nation (MFN) duty rate for these watches is $1.61 each, with an additional 4.2% duty on the case and 9.8% duty on the strap, band, or bracelet. This means that for every wrist watch imported, a duty of $1.61 is levied, along with the additional percentages on the case and strap components.
However, certain special tariff preference programs can provide relief from these duty rates. The following countries have established free trade agreements or preferential trade programs with the United States, allowing for duty-free treatment of wrist watches under HS Code 91022935: Australia, Bahrain, Canada (under NAFTA), Chile, Denmark, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and several others. These programs aim to foster economic cooperation and enhance trade relations between countries.
The quantity unit for wrist watches under HS Code 91022935 is "number" (NO). This unit denotes the number of individual watches being imported or exported. It is essential to accurately report the quantity to ensure compliance with customs regulations.
Importing and exporting wrist watches under HS Code 91022935 involves various procedures and considerations. Importing US states and exporting US states play a crucial role in facilitating trade. The importing US states refer to the states within the United States where the wrist watches are being imported, while the exporting US states represent the states from which the watches are being exported. These states play a vital role in ensuring smooth customs clearance and adherence to trade regulations.
wrist watches classified under HS Code 91022935 are non-electric, non-automatic winding timepieces with specific size limitations and band materials. The code provides a standardized classification for these watches, enabling accurate identification and classification in international trade. Importers and exporters need to be aware of the duty rates, special tariff preference programs, and quantity units associated with this HS Code. By understanding these aspects, businesses can navigate the complexities of international trade and seize opportunities for growth and expansion.
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