Wrist watches have become an integral part of our daily lives, not only as a timekeeping device but also as a fashion statement. The HS Code 91021150 specifically refers to wrist watches that are electrically operated with a mechanical display. These watches are designed with precision and craftsmanship, offering a combination of functionality and style.
The product description further specifies that these wrist watches have over 1 jewel and are adorned with a gold or silver-plated case. The band of the watch can be made of textile or base metal, adding to the overall aesthetic appeal.
When it comes to import and export regulations, understanding the HS Code and its associated duty rates is crucial. For HS Code 91021150, the bound/MFN duty rate is 80 cents each, with an additional 6% on the case, 14% on the strap, band, or bracelet, and 5.3% on the battery. These rates apply every time a country lowers a trade barrier or opens up a market, ensuring fair treatment for all trading partners.
However, there are special tariff preference programs available for this HS Code. Countries such as Australia, Bahrain, Canada, Denmark, Egypt, Israel, Japan, Jordan, Morocco, Mexico, Oman, Peru, Singapore, and others offer duty-free treatment for these wrist watches. In these countries, the duty rate is 10 cents each, with 0.7% on the case, 1.7% on the strap, band, or bracelet, and 0.6% on the battery.
Importing these wrist watches into the United States, certain states have been identified as key destinations. Hawaii, New York, and the Virgin Islands are the primary importing states for HS Code 91021150. These states have shown a consistent demand for these watches, making them crucial markets for exporters.
On the exporting side, the Virgin Islands is the most prominent state for this HS Code. It seems to be a hub for the distribution of these wrist watches, indicating its importance in the international trade of this product.
Overall, understanding the HS Code 91021150 and its associated data is vital for both importers and exporters of wrist watches. Knowing the duty rates, special tariff preference programs, and key importing/exporting states allows businesses to navigate the market effectively and make informed decisions. As the demand for wrist watches continues to grow, having a comprehensive understanding of the trade dynamics surrounding this HS Code is crucial for success in the industry.