Wrist watches have become an essential accessory for many individuals, not only for their functionality but also for their style and fashion statement. If you are interested in importing or exporting wrist watches, it is crucial to understand the HS Code 91022130. This code provides specific details about the product, including its features, duty rates, special tariff preference programs, and the states involved in the trade. Let's dive deeper into the world of wrist watches and explore the intricacies of this HS Code.
The HS Code 91022130 refers to wrist watches that are automatic winding and have 2-17 jewels. These watches come with a watch band made of either textile material or base metal. The code provides a clear description of the product, ensuring that there is no confusion or ambiguity when it comes to classifying wrist watches for trade purposes.
When importing wrist watches with the HS Code 91022130, it is essential to be aware of the duty rates associated with the product. The bound or most-favored-nation (MFN) duty rate for each wrist watch is $1.75, with an additional 4.8% on the case and 11.2% on the strap, band, or bracelet. These duty rates are crucial considerations when calculating the overall cost of importing or exporting wrist watches.
The HS Code 91022130 may qualify for various special tariff preference programs, which can significantly impact the cost and competitiveness of the product in the market. Some of these programs include:
These special tariff preference programs provide opportunities for duty-free treatment or reduced duty rates, making wrist watches more accessible and affordable in specific trading regions.
When it comes to importing wrist watches with the HS Code 91022130, it is important to consider the specific states involved in the trade. For this particular product, the importing US states include Hawaii, New York, and the Virgin Islands. These states play a significant role in the distribution and consumption of wrist watches, and understanding their involvement can help streamline import and export processes.
On the other hand, the exporting US state for wrist watches with the HS Code 91022130 is the Virgin Islands. This indicates that the Virgin Islands are a key player in the production and export of wrist watches, emphasizing their role in the global market.
the HS Code 91022130 provides crucial information about wrist watches, including their features, duty rates, special tariff preference programs, and the states involved in the trade. By understanding this HS Code, importers, exporters, and traders can navigate the wrist watch market with confidence and make informed decisions to optimize their business operations.