Products affected as a result of such changes include: To ensure the HS nomenclature 2022 appropriately reflects the significant advancements that have occurred in the past five years, amendments were created. There is no dispute-technology is ever evolving. The amendments in this seventh iteration of the HS comprise 351 sets of amendments. The external factors considered are product advances in technology, new product stream development, environmental concerns, and changes in global trade.
What is changing in the HS nomenclature in 2022?Įvery five years, the WCO undertakes a review of the existing HS and determines whether appropriate amendments should be created to remain current. The HS serves as a basis for customs tariffs for more than 200 countries and economies across the world, with the mutual agreement to use the same six-digit product classification codes.
Watch this week's Trade & Tariff perspective:Įstablished in 1988, the Harmonized System (HS) was enacted to provide structure and uniformity for the classification of more than 5,000 globally traded commodity groups. Act now to avoid costly shipping delays and significant compliance issues in your supply chain. This year is especially critical, as the World Customs Organization (WCO) has made more than 350 amendments to the Harmonized System, going into effect on January 1, 2022. Novem| Anahi Czeszewski Product Development Manager Proactively Prepare for the Upcoming 2022 Harmonized System UpdatesĪs year end rapidly approaches, it’s time to review your tariff classifications.