Harmonized Tariff Schedule (HTS) Code Explained for Imports & Exports – Latest News
If you’re going to import or export goods — and, surprisingly, even if you’re not — it’s important to learn how to determine the Harmonized Tariff Schedule (HTS) classification of your products. This code is used for determining the duty you pay, as well as a host of other elements of trade law, from quotas to Free Trade Agreement qualification, to the countless regulatory requirements managed by agencies other than U.S. Customs and Border Protection. Import duties have been around for thousands of years, but they started out simply. Governments have always had to collect taxes somehow, and imported goods — particularly goods that might compete with local goods — have therefore always been a popular target. Over the course of time, countries decided to set different duty rates for clothing, food, beverages, furniture. Then they then broke it down further with different rates for cotton or wool, for meat…
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