Watches are a popular accessory that not only serve the purpose of telling time but also reflect the wearer's style and personality. When it comes to watches, there are various types and designs available in the market. One such category is watches (excluding wrist watches) that are not electrically operated and have over 17 jewels in the movement. These watches fall under HS Code 91029980.
The HS Code system is an internationally recognized classification system for products. It is used by customs authorities, importers, and exporters to classify goods for international trade. HS Code 91029980 specifically identifies watches that meet the mentioned criteria.
When importing or exporting goods, it is essential to understand the HS Code as it helps determine the applicable customs duty rates and any special tariff preference programs that may be available. In the case of HS Code 91029980, the bound/MFN duty rate is $2.19 each, with an additional 6% on the case.
It is important to note that trade barriers and market openings have implications for the import and export of goods. If a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This ensures fair and equal treatment in international trade.
Furthermore, the quantity unit for watches falling under HS Code 91029980 is number (NO). This means that the watches are counted and measured as individual units.
In terms of special tariff preference programs, watches falling under HS Code 91029980 are eligible for various programs that offer preferential treatment. These programs include:
These special tariff preference programs provide favorable customs treatment for watches falling under HS Code 91029980, depending on the trading partner and the specific program.
When importing watches falling under HS Code 91029980 to the United States, it is important to consider the exporting country and any applicable special tariff preference programs. Similarly, when exporting watches from the United States, the importing country's regulations and special tariff preference programs should be taken into account.
HS Code 91029980 identifies watches (excluding wrist watches) that are not electrically operated and have over 17 jewels in the movement. This HS Code helps classify these watches for international trade purposes. Understanding the HS Code, the applicable duty rates, and any special tariff preference programs is crucial for importers and exporters of these watches.