HS Code 91112040: Watch cases of base metal not gold- or silver-plated
When it comes to international trade, every product is assigned a specific code known as the Harmonized System (HS) Code. This code allows countries to classify and identify products for customs and trade purposes. In this article, we will explore the HS Code 91112040, which refers to watch cases made of base metal that are not gold- or silver-plated.
The HS Code 91112040 is used to categorize watch cases that are made of base metal, such as steel or brass, and do not have a gold or silver coating. This code helps customs authorities and traders to easily identify and classify these specific types of watch cases.
Importing or exporting products under this HS Code may involve various regulations and tariffs. Let's take a closer look at some of the important details related to this code:
- Bound / MFN duty rate: The bound or most-favored-nation (MFN) duty rate for products classified under HS Code 91112040 is 3.6 cents each, plus an additional 7.6% every time a country lowers a trade barrier or opens up a market. This means that the applicable duty rate may vary depending on trade agreements and negotiations between countries.
- Quantity unit: The quantity unit for watch cases under this HS Code is measured in numbers (NO). This means that the quantity of watch cases imported or exported is counted individually.
- Special tariff preference programs: There are several special tariff preference programs available for products classified under HS Code 91112040. These programs provide preferential treatment in terms of duty rates or exemptions for specific countries. Some of the programs applicable to this HS Code include:
- Free Trade Agreement (A+, AU, BH, CA, CL, D, E, IL, J, J+, JO, MA, MX, OM, P, PE, R, SG): This program grants duty-free treatment to imports from least-developed beneficiary developing countries eligible for the Generalized System of Preferences (GSP) under this subheading.
- Australia Special Rate: This program offers a special rate for imports from Australia, resulting in a reduced or exempted duty rate.
- Bahrain Special Rate: Imports from Bahrain are eligible for a special rate, which may lower the applicable duty rate.
- NAFTA for Canada and Mexico: Under the North American Free Trade Agreement (NAFTA), watch cases imported from Canada and Mexico enjoy duty-free treatment.
- Chile Special Rate: Imports from Chile are subject to a special rate, providing a favorable duty treatment.
- Africa Growth and Opportunity Act (AGOA): This program offers duty-free treatment for imports from eligible countries in Africa.
- Caribbean Basin Initiative (CBI): Watch cases imported from countries participating in the CBI program receive duty-free treatment.
- Andean Trade Preference Act (ATPA) and Andean Trade Promotion and Drug Eradication Act (ATPDEA): These programs grant preferential treatment to imports from eligible Andean countries.
- Jordan Special Rate: Imports from Jordan enjoy a special rate, resulting in a reduced or exempted duty rate.
- Morocco Special Rate: This program offers a special rate for imports from Morocco, resulting in a reduced or exempted duty rate.
- Dominican Republic-Central American Special Rate (DR-CAFTA): This program provides preferential treatment to imports from eligible countries in the Dominican Republic-Central America Free Trade Agreement (DR-CAFTA).
- Peru Special Rate: Imports from Peru are eligible for a special rate, which may lower the applicable duty rate.
- Caribbean Basin Trade Partnership Act (CBTPA): This program grants duty-free treatment to watch cases imported from eligible countries in the Caribbean Basin.
- Singapore Special Rate: Imports from Singapore are subject to a special rate, providing a favorable duty treatment.
It is important for importers and exporters to be aware of the HS Code 91112040 and its associated regulations when dealing with watch cases made of base metal that are not gold- or silver-plated. Understanding the duty rates, quantity units, and special tariff preference programs can help businesses navigate international trade more effectively and take advantage of any available benefits or exemptions.
the HS Code 91112040 pertains to watch cases made of base metal that are neither gold- nor silver-plated. This code is used for classification and identification purposes in international trade. Importers and exporters should familiarize themselves with the regulations and special tariff preference programs associated with this HS Code to ensure compliance and maximize trade opportunities.
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