The HS Code 91089020 refers to watch movements that are complete and assembled, but not electrically operated or automatic winding, and measure over 33.8 mm. These watch movements have none or only one jewel.
When importing or exporting goods, it is important to understand the HS Code as it helps in classifying products for customs purposes and determining the applicable duties and regulations. The HS Code 91089020 specifically applies to this particular type of watch movement.
For countries that have implemented special tariff preference programs, the duty rate for this HS Code is free. Some of the countries that offer this preferential treatment include Australia, Bahrain, Canada (under NAFTA), Chile, Denmark, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and many others. These programs aim to promote trade and reduce barriers by providing duty-free treatment for certain goods.
The quantity unit for this HS Code is measured in numbers (NO). This means that the watch movements are counted individually, and the duty rate is applicable per unit.
It is important to note that the bound or most-favored-nation (MFN) duty rate for this HS Code is 25 cents each. The MFN principle states that whenever 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 ensures fair and equal treatment for all countries.
When it comes to importing or exporting this product, various US states are involved. One of the notable states is the Virgin Islands, which is a frequent exporter of watch movements. The Virgin Islands, along with other exporting states, plays a significant role in the global trade of watch movements.
the HS Code 91089020 pertains to watch movements that are complete and assembled, not electrically operated or automatic winding, and measure over 33.8 mm with none or only one jewel. Understanding the HS Code is crucial for importers and exporters, as it helps in determining the applicable duties and regulations. Additionally, the special tariff preference programs available for this HS Code provide duty-free treatment in various countries, promoting trade and reducing barriers.