The HS Code 91141080 refers to a specific product category: springs, including hair-springs, designed for use in clocks. This article aims to provide an educational overview of this HS Code and its implications for international trade.
When it comes to international trade, the Harmonized System (HS) Code is a standardized classification system used to classify and define traded products. Each HS Code corresponds to a particular product, allowing for easy identification and categorization. The HS Code 91141080 specifically relates to springs used in clocks, including hair-springs.
Importing and exporting goods classified under HS Code 91141080 may be subject to various regulations, including duty rates and special tariff preference programs. Let's take a closer look at the details:
The product description for HS Code 91141080 is "Springs, including hair-springs, for clocks." This includes any type of spring used in the construction or functioning of clocks, including specialized hair-springs that are crucial for accurate timekeeping.
The bound / most-favored-nation (MFN) duty rate for goods classified under HS Code 91141080 is 4.2%. The MFN duty rate is the rate that applies uniformly to all trading partners when a country lowers a trade barrier or opens up a market. This means that regardless of the trading partner, the duty rate remains the same.
The quantity unit for HS Code 91141080 is "number" (NO), indicating that the quantity of springs imported or exported is measured in individual units or pieces.
Goods classified under HS Code 91141080 may be eligible for special tariff preference programs, providing certain countries with specific trade benefits. The following programs offer duty-free treatment for imports of springs for clocks:
These special tariff preference programs aim to promote trade and economic development between specific countries by offering reduced or eliminated duties for qualifying products.
HS Code 91141080 applies to both importing and exporting US states. This means that any state within the United States can import or export springs for clocks under this HS Code.
HS Code 91141080 classifies springs, including hair-springs, used in clocks. Understanding the specific HS Code and its associated regulations, such as duty rates and special tariff preference programs, is essential for businesses involved in international trade. By adhering to these regulations, importers and exporters can ensure smooth and compliant transactions while promoting global commerce.