Last May, the National Competition for Customs Valuation and HS Classification was held by CVCI (Customs Valuation & Classification Institute, affiliated organization of Korea Customs Service).
A total of 369 people, including 21 organizations, participated in the HS Classification competition, and 271 people, including 11 organizations, participated in the Customs Valuation competition.
Topics: Asia, About us, HS Classification
On May 3rd, the United States Trade Representative (USTR) issued a notice requesting comments from US domestic industry regarding the extension of Section 301 duties originally imposed in July and August 2018. The request for comments is directed at US domestic industries that have benefited from the Section 301 action, which imposes additional duties on products that are country of origin China.
Topics: Duty Drawback, Asia, HS Classification
Earlier this year, the World Customs Organization (WCO) released 2022 Harmonized System (HS) Updates. These updates mark the most significant change in the HS nomenclature in five years and require an adjustment of HS codes in member countries. Since this release, US importers have been preparing for the implementation scheduled for January 1, 2022, while monitoring changes in other import markets.
A preliminary release of the 10-digit HTS US changes was made in the US on September 28, 2021.
This release has allowed US importers to start preparing for the impact of this change. CBP has delayed the implementation of these code changes from January 3 to January 27, 2022.
This slight delay will give importers much appreciated time to prepare. If you are looking for help navigating this change, either in the US or globally, please feel free to reach out to Tradewin.
If you would like to read other publications from Tradewin on HTS classification changes, please read Tradewin’s blog originally posted on October 15, 2021, “HS2022: The codes they are a-changin'”
Topics: HS Classification
… well, not all of them luckily!!! But, just like Bob Dylan's song that inspired the title, my less-so-poetic commentary is a rallying call for consideration of the impending changes in the HS2022 update.
Some background to set the mood: the Harmonized System is a convention comprising the nomenclature for the classification of products in cross-border trade. The nomenclature is a hierarchical structure consisting of product categories/subcategories and descriptions, represented in a six-digit numerical code (HS Code). The HS Codes enable Customs and other governmental authorities to categorize what is being imported or exported. Within the 200+ countries adhering to the Harmonized System, the six-digit HS Code is expanded at a national tariff level and includes additional digits for further sub-categorization. A Tariff Classification is commonly between 8-12 digits for most countries.
Every 5-6 years the World Customs Organization (WCO) updates the Harmonized System to accommodate new products, to more specifically categorize certain products, address environmental/social concerns, or to provide more clarity and transparency. On 1st January 2022, the codes they are a-changin'!
Major Changes
There are 351 amendments in HS2022.
The summary provided below, and especially the examples used, are not a comprehensive or exhaustive list of changes.
They are simply provided for illustration purposes.
Changes in HS2022 include:
Topics: HS Classification
Trade Compliance: Systems + Knowledge