When it comes to keeping track of time while on the road or in the air, instrument panel clocks play a crucial role. These clocks are specifically designed for use in vehicles, air/spacecraft, and vessels, and are equipped with a clock movement that is over 50 mm wide. They are electrically operated and do not feature optoelectronic displays. Additionally, these clocks are priced at over $10 each.
The Harmonized System (HS) Code 91040030 categorizes these instrument panel clocks, making it easier for countries to classify and regulate their import and export. HS codes are used globally to standardize the classification of goods for customs purposes. They help ensure that trade barriers are lowered consistently and markets are opened up to all trading partners in a fair and equitable manner.
Importing or exporting goods classified under HS Code 91040030 comes with specific duty rates. The bound or Most Favored Nation (MFN) duty rate for instrument panel clocks is 30 cents each. In addition to this, there is a 4.3% duty rate on the movement and case of the clock, as well as a 3.5% duty rate on the battery.
However, special tariff preference programs exist that allow for duty-free treatment of imports under HS Code 91040030. These programs include:
These tariff preference programs serve to promote trade and economic development between countries by providing preferential treatment to certain goods. Importing countries that participate in these programs can enjoy duty-free treatment when importing instrument panel clocks under HS Code 91040030.
It is important to note that the quantity unit for these clocks is measured in numbers (NO). This means that the duty rates and tariff preferences apply to each individual clock imported or exported.
When it comes to the United States, different states have varying levels of import and export activity for instrument panel clocks classified under HS Code 91040030. Some of the major importing states include California, Texas, New York, Florida, and Illinois. On the other hand, states such as Michigan, Ohio, Kentucky, Indiana, and Tennessee are known for their exporting activities in this product category.
HS Code 91040030 plays a significant role in classifying and regulating instrument panel clocks for vehicles, air/spacecraft, and vessels. Understanding the duty rates, tariff preference programs, and import-export dynamics associated with this HS code is essential for businesses and individuals involved in the trade of these clocks.