HS Code 91029920 - Watches (excl. wrist watches) nesoi, not electrically operated, with 0-7 jewels in the movement
Watches have been a popular accessory for centuries, and they continue to be an essential part of our everyday lives. From telling the time to making a fashion statement, watches serve various purposes. The HS Code 91029920 refers to a specific type of watch that is not electrically operated and has 0-7 jewels in the movement.
The HS Code is a globally recognized system for classifying and coding goods in international trade. It provides a standardized way to identify and categorize products, making it easier for customs authorities and traders to classify and track goods.
The product description for HS Code 91029920 is "Watches (excl. wrist watches) nesoi, not electrically operated, with 0-7 jewels in the movement." This description provides important information about the characteristics of the watches falling under this HS Code.
The "not electrically operated" specification means that these watches do not require batteries or any electrical power source to function. Instead, they are powered by mechanical movements, which often involve the use of springs and gears. This traditional method of powering watches adds to their charm and appeal.
The presence of "0-7 jewels in the movement" refers to the number of jewels used in the watch's mechanical movement. Jewels are small synthetic gemstones that are used as bearings in the watch's movement. They help reduce friction and increase the accuracy and longevity of the watch. The number of jewels can vary from 0 to 7, with more jewels generally indicating a higher quality and more precise movement.
When it comes to international trade, the MFN (Most Favored Nation) duty rate for HS Code 91029920 is 20 cents each, with an additional 3% on the case. MFN is a principle of the World Trade Organization (WTO) that requires countries to treat all trading partners equally. This means that any trade barrier or market opening applied to a specific product must be applied to the same product from all trading partners.
In addition to the MFN duty rate, there are also special tariff preference programs available for watches falling under HS Code 91029920. These programs provide preferential treatment in terms of duty rates for specific countries. The countries eligible for special tariff preference programs for this HS Code include Australia, Bahrain, Canada (under NAFTA), Chile, the European Union, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and various others.
For importing watches falling under HS Code 91029920 into the United States, different states may have their own regulations and requirements. It is important for importers to be aware of the specific rules and documentation needed for each state. Similarly, when exporting these watches from the United States, it is crucial to be familiar with the regulations and requirements of the destination country.
the HS Code 91029920 represents watches (excluding wrist watches) that are not electrically operated and have 0-7 jewels in the movement. This HS Code provides a standardized way to classify and track these watches in international trade. The MFN duty rate and special tariff preference programs further influence the import and export of these watches, while individual states may have their own regulations for importing and exporting. Understanding the HS Code and its associated information is essential for anyone involved in the trade of watches falling under HS Code 91029920.
More on HS code 91029920
