Watch movements, complete and assembled, electrically operated, with mechanical display or device to incorporate such display, over 1 jewel, fall under HS Code 91081180. This code is used to classify and identify these specific types of watch movements in international trade.
The HS Code 91081180 is an important code for customs and trade authorities as it helps in streamlining the import-export process. It provides a standardized system for classifying goods and determining duty rates. Understanding the details and implications of this HS Code is crucial for businesses involved in the watch industry.
The product description for HS Code 91081180 is "Watch movements, complete and assembled, electrically operated, with mechanical display or device to incorporate such display, over 1 jewel." This means that the code is applicable to fully assembled watch movements that are powered by electricity and have a mechanical display mechanism.
The code also specifies that the watch movements must have over 1 jewel. Jewels in watch movements are synthetic gemstones used as bearings to reduce friction and improve accuracy. The presence of jewels indicates a higher level of precision and quality in the watch movement.
The bound or Most Favored Nation (MFN) duty rate for products classified under HS Code 91081180 is 72 cents each, with an additional 5.3% on the battery. The duty rate is the amount of tax or duty imposed on the imported goods. In this case, it is important to note that the duty rate applies to each individual watch movement.
In addition to the standard duty rate, there are special tariff preference programs available for this HS Code. These programs provide certain countries with preferential treatment or duty-free access to the US market. The following countries have special tariff preferences for products under HS Code 91081180:
These special tariff preference programs allow for reduced or zero-duty rates, which can be beneficial for businesses trading with these countries.
When importing goods classified under HS Code 91081180 into the United States, it is important to consider the specific requirements and regulations of the importing state. While the HS Code is applicable nationwide, each state may have additional regulations or licensing requirements for certain goods.
Similarly, when exporting goods from the United States, it is important to be aware of the requirements and regulations of the destination state or country. Compliance with export regulations ensures a smooth and legal export process.
For example, the Virgin Islands is listed as an importing US state for products under this HS Code. This means that businesses exporting watch movements under HS Code 91081180 should be aware of the specific regulations and requirements of the Virgin Islands.
HS Code 91081180 is used to classify complete watch movements with mechanical display or device to incorporate such display, over 1 jewel. Understanding the details and implications of this HS Code is important for businesses involved in the watch industry, as it helps in accurately classifying goods and determining duty rates.
Additionally, the availability of special tariff preference programs for certain countries provides opportunities for reduced or zero-duty rates. It is essential for businesses to stay informed about these special programs to take advantage of the benefits they offer.
Finally, when importing or exporting goods under this HS Code, it is crucial to consider the specific regulations and requirements of the importing or exporting states or countries. Compliance with these regulations ensures a smooth and legal trade process.