Accordions have been around for centuries, bringing joy and music to people all over the world. The HS code 92059018 refers to accordions and similar instruments, excluding piano accordions, that do not have electronic sound or amplification capabilities.
When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) code provides a uniform method for categorizing products, ensuring consistency and facilitating international trade.
The product description for HS code 92059018 specifies that it includes accordions and similar instruments without electronic sound or amplification. This means that it covers a wide range of traditional accordion-like instruments, such as button accordions and diatonic accordions.
Importing or exporting goods classified under HS code 92059018 may be subject to certain duties and tariff rates. The bound or most-favored-nation (MFN) duty rate for this category is 2.6%. This means that every time 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.
The quantity unit for products classified under HS code 92059018 is measured in numbers (NO). This unit indicates that the quantity of accordions or similar instruments is counted individually.
However, there are special tariff preference programs that offer duty-free treatment for products classified under HS code 92059018. These programs include the Generalized System of Preferences (GSP), which provides duty-free treatment for eligible developing countries.
Additionally, specific countries have negotiated special tariff rates or preferential treatment for accordions and similar instruments. These countries include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic and Central American countries (under DR-CAFTA), Peru, and Singapore.
It is important to note that the information provided here may not be exhaustive, and it is always advisable to consult the latest regulations and trade agreements when importing or exporting products classified under HS code 92059018.
HS code 92059018 encompasses accordions and similar instruments without electronic sound or amplification. Understanding the HS code and its associated regulations is crucial for international trade, ensuring compliance with duty rates and tariff preferences. Whether you are a musician, an importer, or an exporter, knowing the HS code for your products is essential for a smooth and successful trade process.