Instrument panel clocks play a crucial role in providing accurate timekeeping information to drivers and operators of vehicles, air/spacecraft, and vessels. These clocks are essential for ensuring proper navigation, scheduling, and coordination. HS Code 91040005 specifically refers to instrument panel clocks that have a clock movement over 50 mm wide and feature an opto-electronic display only. Additionally, these clocks are priced at no more than $10 each.
When importing or exporting instrument panel clocks, it is important to be familiar with the corresponding HS code. HS codes, also known as Harmonized System codes, are internationally recognized codes used to classify products for customs and trade purposes. They help streamline international trade by ensuring consistent classification and tariff determination for various goods.
The HS code 91040005 provides a specific classification for instrument panel clocks based on their characteristics and purpose. This code enables customs authorities and traders to easily identify and categorize these clocks during customs clearance and trade transactions.
For importers, understanding the HS code is essential as it determines the applicable customs duties and other trade regulations. The bound or MFN (Most Favored Nation) duty rate for instrument panel clocks classified under HS code 91040005 is 2.6% on the movement and case, with an additional 3.5% duty on the battery.
It is important to note that trade barriers and market access regulations can vary between countries. However, under the principle of Most Favored Nation, whenever a country lowers a trade barrier or opens up a market for specific goods or services, it must do so for all its trading partners. This principle promotes fairness and equal treatment in international trade.
The quantity unit for instrument panel clocks classified under HS code 91040005 is "number" (NO). This unit indicates that the quantity of clocks is measured individually, rather than in weight or volume.
Importers and exporters can also take advantage of special tariff preference programs that may apply to instrument panel clocks under HS code 91040005. These programs provide preferential treatment, such as duty-free or reduced-duty rates, for eligible countries or regions. Some of the special tariff preference programs applicable to these clocks include:
These special tariff preference programs provide opportunities to reduce or eliminate customs duties for instrument panel clocks imported from or exported to specific countries, promoting trade and economic cooperation.
When importing instrument panel clocks into the United States, it is important to consider the specific regulations and requirements of both the importing and exporting states. Different states may have additional regulations or documentation requirements for the importation of certain goods. Compliance with these regulations ensures smooth customs clearance and trade operations.
HS code 91040005 classifies instrument panel clocks for vehicles, air/spacecraft, and vessels with specific characteristics. Understanding this HS code is crucial for importers and exporters to determine the applicable customs duties, comply with trade regulations, and take advantage of special tariff preference programs. By adhering to these requirements, traders can facilitate seamless international trade and contribute to the growth of the industry.