When it comes to measuring time intervals accurately, there is a specific HS code that identifies the apparatus used for this purpose. HS Code 91069055 refers to the classification of devices that can measure, record, or indicate time intervals. These apparatuses are typically powered by batteries and feature an opto-electronic display.
Let's delve deeper into the details of this HS code and explore its relevance in international trade.
The product description for HS Code 91069055 provides a concise overview of the apparatus it covers. It specifically mentions that the devices falling under this code are equipped with watch or clock movements and are battery-powered. Moreover, they exclusively feature an opto-electronic display, which enhances the accuracy and clarity of time measurement.
The bound / MFN (Most Favored Nation) duty rate associated with HS Code 91069055 is 3.9% on the apparatus itself and an additional 5.3% on the battery used in these devices. This means that when importing or exporting these apparatuses, the respective countries impose these duty rates on the product and its battery.
It is important to note that when a country decides to lower trade barriers or open up its market, it must do so for all goods or services from its trading partners. This principle ensures fairness and equal treatment in international trade.
The quantity unit for HS Code 91069055 is measured in numbers (NO). This implies that the quantity of apparatuses being imported or exported is counted individually rather than in bulk or weight units.
There are several special tariff preference programs associated with HS Code 91069055, offering various benefits and exemptions. These programs include:
These special tariff preference programs aim to promote trade and economic cooperation between countries while offering certain exemptions or reduced duty rates for specific products.
HS Code 91069055 applies to both importing and exporting states in the United States. This means that both the import and export of these apparatuses must adhere to the regulations and requirements associated with this HS code, regardless of the state they originate from or are destined for.
Understanding the details and implications of HS Code 91069055 is crucial for importers, exporters, and traders involved in the international trade of apparatuses for measuring, recording, or indicating time intervals. By complying with the relevant regulations and taking advantage of special tariff preference programs, businesses can navigate the global market more effectively and efficiently.