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Tariffs, Export Controls and More: Are you Ready for the January 2022 Changes to the Harmonised System

Tariffs, Export Controls and More: Are you Ready for the January 2022 Changes to the Harmonised System



  • Are you Ready for the January 2022 Changes to the Harmonised System?

    13 December 2021 10:00 AM EST

    The World Customs Organisation (WCO) has developed and maintained the Harmonised System (HS), since it took effect in 1988. The HS is a taxonomy of goods used for tariffs and other statistical trade operations. Every five years, the WCO issues a new edition of the HS which features updates and modifications to the coding system with the latest edition of the HS taking effect on January 1, 2022. The usage of the HS code on customs documents to track tariffs, and to assist in the identification of strategic goods subject to export control licensing requirements are key components of the upcoming HS changes for 2022.

    One of the big changes to the new HS is the merging of dual-use goods and their Export Control Classification Numbers (ECCNs) with corresponding HS codes. For compliance teams there is work to be done; business rules that support software systems for global trade compliance must be updated and continuing to ensure that product classification with the correct HS code is a must.

    Join IHS Markit and friends for an interactive, informal discussion of the changes to the latest version of the HS, what it means for business, the impact on export controls and new product categorisation in a free on-line webinar.

    Click here to register!