HS Code 91059950: Clocks nesoi, not electrically operated, movement measuring over 50 mm in width or diameter, valued not over $5 each
Clocks are an essential part of our everyday lives, helping us keep track of time and stay organized. They come in various shapes, sizes, and designs, catering to different preferences and needs. One specific category of clocks that falls under the HS Code 91059950 is non-electrically operated clocks with a movement measuring over 50 mm in width or diameter, valued not over $5 each. In this article, we will explore the details and implications of this HS code, along with additional relevant information.
The HS Code 91059950 is a unique identifier for clocks that meet the specified criteria. It helps customs authorities and traders classify and track the import and export of these clocks. The code consists of 10 digits, with each digit providing specific information about the product. In this case, "91059950" signifies clocks nesoi (not elsewhere specified or included) that are not electrically operated and have a movement measuring over 50 mm in width or diameter, valued not over $5 each.
When it comes to the duty rate for clocks falling under HS Code 91059950, it is important to note that the rate can vary depending on the country and any applicable trade agreements or preferences. The bound / MFN (Most Favored Nation) duty rate for clocks in this category is 7.5 cents each, plus an additional 3.2% whenever a country lowers a trade barrier or opens up a market. The MFN principle ensures that when a country reduces barriers or provides preferential treatment to a specific trading partner, it must do the same for all its trading partners.
The quantity unit for clocks under HS Code 91059950 is the number (NO), indicating that the quantity of clocks imported or exported should be measured in whole numbers.
In terms of special tariff preference programs, clocks falling under HS Code 91059950 may be eligible for various benefits depending on the country of origin and destination. Some of these programs include:
1. A+ (Least-developed beneficiary developing countries eligible for Generalized System of Preferences): Clocks from these countries receive duty-free treatment.
2. AU (Australia Special Rate): Clocks imported from Australia may be subject to a special rate.
3. BH (Bahrain Special Rate): Clocks imported from Bahrain may be subject to a special rate.
4. CA (NAFTA for Canada): Clocks imported from Canada under the North American Free Trade Agreement (NAFTA) receive duty-free treatment.
5. CL (Chile Special Rate): Clocks imported from Chile may be subject to a special rate.
6. D (Africa Growth and Opportunity Act - AGOA): Clocks imported from eligible African countries under AGOA receive duty-free treatment.
7. E (Caribbean Basin Initiative - CBI): Clocks imported from eligible Caribbean countries under the CBI receive duty-free treatment.
8. IL (Israel Special Rate): Clocks imported from Israel may be subject to a special rate.
9. J (Andean Trade Preference Act - ATPA): Clocks imported from eligible Andean countries under ATPA may receive a special rate.
10. JO (Jordan Special Rate): Clocks imported from Jordan may be subject to a special rate.
11. MA (Morocco Special Rate): Clocks imported from Morocco may be subject to a special rate.
12. MX (NAFTA for Mexico): Clocks imported from Mexico under NAFTA receive duty-free treatment.
13. OM (Oman Special Rate): Clocks imported from Oman may be subject to a special rate.
14. P (Dominican Republic-Central American Special Rate - DR-CAFTA): Clocks imported from eligible countries under DR-CAFTA may receive a special rate.
15. PE (Peru Special Rate): Clocks imported from Peru may be subject to a special rate.
16. SG (Singapore Special Rate): Clocks imported from Singapore may be subject to a special rate.
It is worth mentioning that these special tariff preference programs aim to promote trade and economic cooperation between countries. By providing preferential treatment, they create opportunities for businesses and enhance market access for eligible products.
the HS Code 91059950 represents clocks that are not electrically operated, have a movement measuring over 50 mm in width or diameter, and are valued not over $5 each. This code helps classify and track the import and export of these clocks, ensuring smooth customs procedures. The duty rate, quantity unit, and special tariff preference programs associated with this HS code play a crucial role in determining the costs and benefits of trading these clocks. By understanding and utilizing these codes and programs, businesses can navigate international trade more efficiently and leverage the available opportunities.
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