When it comes to international trade, it is essential to have a standardized system that classifies goods. The Harmonized System (HS) code is a globally recognized classification system used to categorize products for customs purposes. Each HS code represents a specific product, allowing for easier identification and regulation of trade. In this article, we will be focusing on HS code 91059920, which pertains to clocks nesoi (not elsewhere specified or included), not electrically operated, with a movement not exceeding 50 mm in width or diameter, and not designed to operate for over 47 hours without rewinding.
The HS code 91059920 is used to classify clocks that meet the specific criteria mentioned above. These clocks are typically mechanical or analog in nature, requiring manual winding to keep them running. They are not electrically operated and have a compact size, with a movement not exceeding 50 mm in width or diameter.
It is important to note that the HS code 91059920 does not cover electric or battery-operated clocks, as well as those with larger movements. These clocks may fall under different HS codes, depending on their characteristics and specifications.
When importing or exporting goods classified under HS code 91059920, it is crucial to understand the applicable duties and tariff rates. The bound/MFN (Most Favored Nation) duty rate for this HS code is free. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. As a result, there are no additional duties imposed on clocks classified under this HS code when trading with countries that have free trade agreements or preferential trade programs.
Furthermore, there are special tariff preference programs available for clocks classified under HS code 91059920. These programs provide additional benefits and duty-free treatment for imports from specific countries. Some of the special tariff preference programs applicable to this HS code include:
These special tariff preference programs enable eligible countries to import clocks classified under HS code 91059920 with duty-free treatment or reduced tariff rates. It is essential for importers and exporters to be aware of these programs and take advantage of the benefits they offer.
Lastly, it is worth mentioning that the HS code 91059920 is used for customs purposes when importing clocks into the United States. The importing US states and exporting US states play a significant role in determining the logistics and regulations involved in the trade of clocks classified under this HS code.
the HS code 91059920 is specifically designated for clocks nesoi, not electrically operated, with a movement not exceeding 50 mm in width or diameter, and not designed to operate for over 47 hours without rewinding. This HS code allows for easier identification and regulation of trade, ensuring that the correct customs duties and tariff rates are applied. Importers and exporters should be aware of the special tariff preference programs and take advantage of the benefits they offer when trading clocks classified under this HS code.