Accuracy of your HTS classifications is as important as ever. Have you reviewed your current classification database? Are you aware there could be fines and penalties for incorrect tariff codes. Coming up, Tradewin will have a two part blog series outlining the importance of accuracy, but first, a reminder of why it is so important!
HTS Classification is a necessary evil. Unfortunately, it is an evil that must be revisited often. There are various ways to approach harmonized tariff classification from doing it yourself, hiring a third party service provider, or just putting the pages up on the wall and throwing darts at it to determine which HTS Classification to use. (While the last one is a great way to relieve the stress of classification, I personally would not recommend this method).