An alarm clock is a common household item that helps people wake up on time. The HS Code 91091160 refers to alarm clock movements that are complete and assembled, electrically operated, with a display measuring over 50 mm and valued over $5 each.
When importing alarm clock movements with this HS code, it is crucial to be aware of the applicable duty rates. The bound/MFN duty rate for these products is 22 cents each, with additional percentages on the movement and battery components. This means that for every imported alarm clock movement, a duty of 22 cents is charged, along with 3.2% on the movement and 2.6% on the battery.
Trade barriers and market openness play a significant role in international trade. According to the principle of most favored nation (MFN), when 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. This ensures fairness and equal treatment among trading nations.
The quantity unit for alarm clock movements is measured in numbers (NO). This means that the quantity of imported alarm clock movements is calculated based on the number of units being imported.
There are several special tariff preference programs available for alarm clock movements with HS Code 91091160. These programs offer preferential treatment in terms of duty rates. The specific programs applicable to this HS code are as follows:
When importing alarm clock movements under any of these special tariff preference programs, the duty rates may be reduced or eliminated, providing cost savings for the importer.
It is important to note that the importing and exporting US states for alarm clock movements with HS Code 91091160 include the Virgin Islands. This information is essential for businesses and individuals involved in the import and export of alarm clock movements.
the HS Code 91091160 refers to complete and assembled electrically operated alarm clock movements with a display measuring over 50 mm and valued over $5 each. Understanding the duty rates, special tariff preference programs, and the importing/exporting US states is crucial for businesses and individuals engaged in the trade of these products.