When it comes to international trade, it is essential to have a standardized system of classification for products. This is where the Harmonized System (HS) Code comes into play. Each product is assigned a unique HS Code, which helps to identify and categorize goods for customs and trade purposes.
In this article, we will be focusing on HS Code 91089030, which pertains to watch movements that are complete and assembled. These watch movements are not electrically operated or automatic winding, and they measure 33.8 mm or less. Additionally, they contain over 1 but not more than 7 jewels.
Now, let's delve deeper into the details of this HS Code and explore its significance in international trade.
Based on this description, it is clear that HS Code 91089030 specifically refers to watch movements that meet these criteria. It helps customs authorities and traders identify and classify these watch movements for import and export purposes.
The bound / MFN (Most Favored Nation) duty rate for products under HS Code 91089030 is 57 cents each. This means that for every unit of watch movement imported or exported, a duty of 57 cents is levied.
It is important to note that when 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 in international trade.
The quantity unit for products under HS Code 91089030 is a number (NO). This means that the quantity of watch movements will be measured in numbers rather than weight or volume.
Products classified under HS Code 91089030 may be eligible for special tariff preference programs. These programs provide preferential treatment in terms of duty rates or duty-free treatment for specific countries or regions.
The following special tariff preference programs apply to watch movements under HS Code 91089030:
These special tariff preference programs aim to foster trade relationships, promote economic growth, and encourage international cooperation between the countries or regions involved.
When it comes to importing watch movements under HS Code 91089030 into the United States, all states, including the Virgin Islands, are eligible to receive these products. There are no specific restrictions or limitations based on the importing US states.
However, it is important to comply with all relevant customs regulations and requirements when importing watch movements into the United States. This includes proper documentation, payment of duties or tariffs, and adherence to any additional import restrictions.
By understanding the details and significance of HS Code 91089030, traders, customs authorities, and other stakeholders can ensure smooth international trade operations. The HS Code system provides a common language for trade, facilitating efficient and transparent global commerce.