Wall clocks have been a staple in households for centuries, providing us with a convenient way to keep track of time. The HS Code 91052930 specifically refers to wall clocks that are not electrically operated. These clocks are powered by a movement mechanism, measuring no more than 50 mm, and have at least 1 jewel. What sets them apart is their ability to operate for over 47 hours without the need for rewinding.
When it comes to international trade, the HS Code plays a crucial role in classifying products and determining the applicable customs duties and regulations. For wall clocks falling under HS Code 91052930, the bound or Most Favored Nation (MFN) duty rate is 57 cents each, with an additional 3.7 cents per jewel over 7. Furthermore, a 4.9% duty is imposed on the case of the clock.
Trade barriers and market opening are important considerations in international trade. The principle of Most Favored Nation (MFN) treatment ensures that when a country lowers its trade barriers or opens up a market, it must do so for the same goods or services from all its trading partners. This promotes fair and equal treatment among countries engaged in trade.
When importing wall clocks under HS Code 91052930, the quantity unit is measured in numbers (NO). This indicates that the quantity of clocks being imported is measured individually.
There are also special tariff preference programs that may apply to wall clocks falling under this HS Code. The following countries and regions offer special rates or duty-free treatment for imports of wall clocks:
These special tariff preference programs aim to promote trade and economic development by providing favorable treatment to imports from specific countries or regions.
It's important to note that the importing and exporting US states for wall clocks under HS Code 91052930 can vary. The specific states involved depend on the trade agreements, preferences, and supply chains established between the exporting and importing parties.
HS Code 91052930 represents wall clocks that are not electrically operated and have specific characteristics such as movement size, jewel count, and operating duration. Understanding the HS Code and its associated regulations is crucial for importers and exporters to ensure compliance and take advantage of any applicable special tariff preference programs.