HS Code 91091940: Clock Movements Nesoi, Complete and Assembled, Electrically Operated, with Display Nesoi, Measuring Over 50 mm, Valued Not Over $5 Each
Clock movements are essential components of various timekeeping devices. The HS Code 91091940 specifically refers to clock movements that are not elsewhere specified or included (nesoi). These clock movements are complete and assembled, electrically operated, and equipped with a display. Additionally, they must measure over 50 mm and have a value not exceeding $5 each.
When it comes to international trade, HS codes play a crucial role in classifying products for customs purposes. The HS Code 91091940 enables customs authorities to identify clock movements nesoi and apply the appropriate duty rates and regulations.
The bound / MFN duty rate for clock movements under this HS code is 12 cents each. This duty rate is applicable in addition to specific percentages on the movement and battery. For example, a 5.1% duty is imposed on the movement, while a 4.2% duty is applied to the battery.
It is important to note that trade barriers and market access are governed by the principle of most-favored-nation treatment (MFN). This means that when 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. This principle ensures fair and equal treatment among trading nations.
Clock movements classified under HS Code 91091940 are measured in quantity units known as numbers (NO). This unit allows for easy quantification and tracking of the imported or exported clock movements.
In terms of tariff preference programs, clock movements under this HS code are eligible for special treatment in certain countries. The following programs offer free or reduced tariff rates:
1. A+: Only imports from least-developed beneficiary developing countries are eligible for GSP (Generalized System of Preferences) under this subheading. These imports receive duty-free treatment.
2. AU: Australia provides a special rate for clock movements under the Automotive Products Trade Act (APTA). This program grants duty-free treatment.
3. B: Bahrain offers a special rate for clock movements under specific conditions, resulting in duty-free treatment.
4. BH: The North American Free Trade Agreement (NAFTA) allows clock movements imported from Canada to receive duty-free treatment.
5. CA: The Africa Growth and Opportunity Act (AGOA) provides duty-free treatment for clock movements imported from eligible countries.
6. D: The Caribbean Basin Initiative (CBI) grants duty-free treatment to clock movements imported from eligible countries.
7. E: Israel offers a special rate for clock movements, resulting in duty-free treatment.
8. IL: The Andean Trade Preference Act (ATPA) provides a special rate for clock movements imported from eligible countries.
9. J: Jordan offers a special rate for clock movements, resulting in duty-free treatment.
10. JO: Morocco provides a special rate for clock movements, resulting in duty-free treatment.
11. MA: NAFTA allows clock movements imported from Mexico to receive duty-free treatment.
12. MX: Oman offers a special rate for clock movements, resulting in duty-free treatment.
13. OM: The Dominican Republic-Central American Free Trade Agreement (DR-CAFTA) grants duty-free treatment to clock movements imported from eligible countries.
14. P: Peru offers a special rate for clock movements, resulting in duty-free treatment.
15. PE: Singapore provides a special rate for clock movements, resulting in duty-free treatment.
In the United States, clock movements classified under HS Code 91091940 can be imported or exported to various states. One such state is the Virgin Islands, which actively participates in international trade and may engage in the import or export of clock movements.
the HS Code 91091940 refers to clock movements nesoi that are complete and assembled, electrically operated, and equipped with a display. These clock movements measure over 50 mm and have a value not exceeding $5 each. Understanding the HS code facilitates international trade by enabling proper classification and application of duty rates. Additionally, various tariff preference programs offer free or reduced rates for clock movements, promoting trade and economic cooperation between countries.
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