When it comes to international trade, there are specific codes assigned to different products to facilitate the process. One such code is HS Code 91069040, which refers to time locks valued over $10 each. In this article, we will delve deeper into the details of this HS code and explore its implications in international trade.
Time locks are devices that are designed to restrict access to a certain area or object for a specified period. These locks are commonly used in various industries, including banking, finance, and security. HS Code 91069040 specifically covers time locks that are valued at over $10 each, indicating that it applies to higher-end and more advanced models.
Now, let's take a closer look at the duty rates associated with importing time locks under HS Code 91069040. The bound or most-favored-nation (MFN) duty rate for these locks is 36 cents each. Additionally, there is a 5.6% duty rate applied, as well as an additional 2 cents per jewel. This means that the total duty rate can vary based on the number of jewels present in the time lock.
It is important to note that international trade is governed by the principle of non-discrimination. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This principle ensures fair and equal treatment for all participants in international trade.
Quantity unit for time locks under HS Code 91069040 is measured in numbers (NO). This means that the quantity of time locks imported or exported is measured individually, with each unit counted separately.
Now, let's explore the special tariff preference programs associated with HS Code 91069040. Time locks valued over $10 each can benefit from various preferential treatment programs. These programs include:
When importing time locks under HS Code 91069040, it is essential to consider the specific regulations and requirements of both the importing and exporting US states. Each state may have its own regulations and guidelines for handling imports, so it is crucial to ensure compliance with these regulations to facilitate smooth and hassle-free trade.
HS Code 91069040 covers time locks valued over $10 each. This code is used to identify and classify these specific products in international trade. Understanding the duty rates, special tariff preference programs, and quantity units associated with this HS code can help importers and exporters navigate the complexities of international trade and ensure compliance with relevant regulations and requirements.