When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) Code provides a universal language for identifying and categorizing products. In this article, we will explore HS Code 91031040, which relates to clocks with watch movements.
The product description for HS Code 91031040 is as follows: clocks with watch movements, excluding clocks of heading 9104, electrically operated, with 0-1 jewel in the movement. This specific code helps customs authorities and traders identify and classify clocks with specific features and characteristics.
Understanding the duty rates associated with HS Code 91031040 is crucial for importers and exporters. The bound or Most Favored Nation (MFN) duty rate for clocks with watch movements is 24 cents each. Additionally, there is a 4.5% duty rate on the case and a 3.5% duty rate on the battery. These rates may vary depending on the country and any applicable trade agreements.
Speaking of trade agreements, special tariff preference programs can provide benefits for importers and exporters. For HS Code 91031040, there are several countries and regions that offer preferential treatment. These include:
These countries have specific trade agreements or preference programs in place that allow for duty-free treatment or special rates for imports of clocks with watch movements under HS Code 91031040. Importers and exporters should review the specific requirements and eligibility criteria for each program to take advantage of these benefits.
It is also important to note that the quantity unit for HS Code 91031040 is the number (NO). This unit of measurement helps determine the quantity of clocks with watch movements being imported or exported.
When it comes to importing clocks with watch movements under HS Code 91031040, it is essential to consider the exporting and importing US states. Different states may have varying regulations or requirements for the importation of these goods. Importers should familiarize themselves with the specific rules and regulations of both the exporting and importing states to ensure smooth trade operations.
HS Code 91031040 relates to clocks with watch movements, excluding clocks of heading 9104, electrically operated, with 0-1 jewel in the movement. Importers and exporters should be aware of the duty rates, special tariff preference programs, and quantity units associated with this HS Code. By understanding and complying with these regulations, businesses can navigate international trade more effectively and take advantage of favorable trade agreements.