When it comes to the intricate world of timekeeping, watch movements play a vital role. These small, yet complex mechanisms are the heart and soul of any timepiece. In this article, we will explore the HS Code 91081940, which refers to watch movements that are complete and assembled, electrically operated, with both optoelectronic and mechanical displays, and having 0-1 jewels.
The HS Code 91081940 is used to classify and identify these specific types of watch movements in international trade. This code allows customs officials and importers/exporters to easily categorize and track these products, ensuring smooth and efficient trade between countries.
Watch movements under this HS code are electrically operated, meaning they rely on electrical power to function. They incorporate both optoelectronic and mechanical displays, combining the precision of digital technology with the elegance of traditional watchmaking.
It is worth noting that these watch movements have 0-1 jewels. Jewels, in watchmaking terminology, refer to small synthetic rubies or other gemstones that are used as bearings for minimizing friction in the movement. The presence of jewels in watch movements enhances their durability and accuracy.
Now, let us delve into the specific import and export regulations associated with HS Code 91081940.
The bound / MFN (Most Favored Nation) duty rate for watch movements under HS Code 91081940 is 28 cents each, plus 4.2% on the battery. This means that for each imported watch movement, a duty of 28 cents is imposed, along with an additional 4.2% on the battery component.
It is important to note that duty rates can vary depending on the country and its specific trade policies. However, the principle of non-discrimination applies, which means that whenever 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.
The quantity unit for watch movements under HS Code 91081940 is "number" (NO). This unit represents the individual count of watch movements being imported or exported.
Watch movements classified under HS Code 91081940 may be eligible for special tariff preference programs in certain countries. These programs provide preferential treatment, including duty-free status, for imported goods. The following countries offer specific tariff preferences for these watch movements:
These preferential programs aim to promote trade and economic cooperation between the participating countries, fostering growth and development in the watch industry.
When it comes to the importing and exporting of watch movements classified under HS Code 91081940, it is important to consider the specific states involved. One notable state in the United States for watch imports and exports is the Virgin Islands. The Virgin Islands, as a US territory, plays a significant role in facilitating trade in the watch industry.
It is essential for importers and exporters to familiarize themselves with the regulations and requirements of both the exporting and importing US states to ensure compliance and smooth transactions.
HS Code 91081940 encompasses watch movements that are complete and assembled, electrically operated, with both optoelectronic and mechanical displays, and having 0-1 jewels. This code allows for easy identification and classification of these watch movements in international trade. Understanding the import duties, quantity units, and special tariff preference programs associated with this HS code is crucial for businesses and individuals involved in the watch industry.