The HS Code 91059910 refers to standard marine chronometers that have spring-detent escapements. These chronometers are used in the maritime industry for accurate timekeeping and navigation purposes. They are essential instruments for ships, ensuring that they stay on course and arrive at their destinations safely.
When it comes to trade, countries have to abide by certain rules and regulations. The bound or most-favored-nation (MFN) duty rate for HS Code 91059910 is 17 cents each, with an additional 2.5% and 1 cent per jewel. This means that countries importing these chronometers may have to pay these taxes unless they qualify for special tariff preference programs.
However, there are several special tariff preference programs that exempt certain countries from paying import duties for HS Code 91059910. These countries include:
These tariff preference programs aim to promote trade and economic partnerships between countries by reducing or eliminating import duties on specific goods.
It is important to note that the quantity unit for HS Code 91059910 is "number" (NO), indicating that the quantity of these chronometers is measured individually.
Importing and exporting of HS Code 91059910 can occur between various US states. The specific states involved in the import and export of these chronometers may vary depending on trade agreements and market demand.
HS Code 91059910 covers standard marine chronometers with spring-detent escapements. These chronometers play a vital role in the maritime industry for accurate timekeeping and navigation. Import duties for this HS Code can be exempted for certain countries through special tariff preference programs. Understanding the regulations and trade agreements surrounding HS Code 91059910 is essential for businesses involved in the import and export of these chronometers.