HS Code 91052940: A Comprehensive Guide to Wall Clocks
Wall clocks are a popular and practical addition to any home or office. They not only serve the purpose of telling time but also add a decorative element to the space. In this article, we will delve into the details of HS Code 91052940, which specifically refers to wall clocks that are not electrically operated and have a movement measuring over 50 mm in width or diameter. Additionally, these clocks are valued not over $5 each.
HS Code 91052940 is an international code used to classify and identify this specific type of wall clock for import and export purposes. It ensures that the product is categorized correctly, allowing for easy tracking and regulation of trade in wall clocks.
Bound / MFN Duty Rate:
According to the data provided, the bound / MFN (Most Favored Nation) duty rate for wall clocks falling under HS Code 91052940 is 15 cents each. Additionally, a 6.4% duty is imposed every time a country lowers a trade barrier or opens up a market. This means that if a country reduces its import duties on wall clocks, it must do so for all its trading partners equally.
Quantity Unit:
The quantity unit for wall clocks under HS Code 91052940 is "number" (NO). This unit denotes that the quantity of wall clocks imported or exported is measured in individual units.
Special Tariff Preference Programs:
There are several special tariff preference programs applicable to wall clocks under HS Code 91052940. These programs provide various benefits and preferential treatment for importers and exporters. Let's explore some of these programs:
1. Free: Imports under this category are eligible for duty-free treatment. The following countries are included in this program:
- Least-developed beneficiary developing countries eligible for GSP (Generalized System of Preferences) under that subheading.
- Australia
- Bahrain
- Canada (NAFTA - North American Free Trade Agreement)
- Africa (AGOA - Africa Growth and Opportunity Act)
- Caribbean Basin Initiative (CBI)
- Israel
- Andean Trade Preference Act (ATPA)
- Jordan
- Morocco
- Mexico (NAFTA)
- Oman
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru
2. 1.8? each + 0.8%: Imports under this category are subject to a duty rate of 1.8 cents each, plus an additional 0.8% of the value. The following countries fall under this category:
- Chile
- Singapore
Importing US States and Exporting US States:
The data provided does not mention specific importing or exporting US states for wall clocks under HS Code 91052940. However, it is important to note that the import and export of these wall clocks can occur between any US state and any other country in the world.
HS Code 91052940 classifies wall clocks that are not electrically operated and have a movement measuring over 50 mm in width or diameter. The code ensures proper categorization and regulation of trade for these specific wall clocks. Importers and exporters can benefit from special tariff preference programs, including duty-free treatment and preferential rates. Understanding HS Code 91052940 is essential for those involved in the import and export of wall clocks, ensuring compliance with international trade regulations.
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