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Are you an international trader looking to excel with HS codes? Harmonised System (HS) classification is a crucial element of international trade that helps categorise goods for customs. While the HS code serves as a universal language, it’s crucial to know that regional variations can significantly impact trade processes.
This blog post dives into different HS code classifications, emphasising the three key regions: EU, USA, and Asia.
The Harmonised System (HS) code, managed by the World Customs Organisation, is a six-digit classification system used worldwide to organise products for customs. More than 180 countries and economies rely on it to set tariffs, gather trade statistics, and make international trade smoother and more efficient.
HS codes may usually have different requirements for regions such as the EU, USA, and Asia.
Best match Products Name or products description , you can select any of them to check and calculate duty rate, VAT rate and total landed cost.
This tariff information is for the UK only
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The Harmonised System (HS) code serves as a global standard. However, did you know that individual countries or regions often add extra digits or specific classifications to suit their unique needs better?
Let’s dive into various regions and discover their HS code variations!
The European Union (EU) uses an 8-digit goods classification code by adding two additional digits to the standardised 6-digit HS code. This is especially important for goods that are subject to EU trade agreements or regulations.
Example | |
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6-digit HS code | 8421.91 (Automatic data processing machines) |
8-digit EU HS code | 8421.91.00 (Automatic data processing machines) |
The United States’ goods classification is known as the Harmonised Tariff Schedule (HTS) classification. The HTS code is a 10-digit number that provides more detailed information than the European Union’s 8-digit code.
Example | |
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6-digit HS code | 8501.40 (Electric motors with power of 1000–3730 watts.) |
10-digit EU HS code | 8501.40.00 (Electric motors with power of 1000–3730 watts.) |
Harmonised System (HS) code varies greatly in Asia due to the economic diversity and vast size of the region. It varies from country to country.
Example | |
---|---|
China | 10-digit HS code |
Japan | 8-digit HS code |
South Korea | 10-digit HS code |
India | 8-digit HS code |
The importance of HS code classification can not be overlooked in the international trade market. This blog discussed the clear differences between HS codes among key regions. By understanding this, businesses can:
Businesses can thrive in the competitive world of international trade by mastering HS codes.
Simplify customs clearance and ensure compliance.
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Congratulations! This indicates that you have a well-established trade compliance procedure. Ongoing vigilance and expertise are necessary to achieve and maintain 100% compliance. Despite having comprehensive trade compliance knowledge, navigating the intricacies of import/export regulations can be difficult. Thus, consider getting assistance from industry leaders like iCustoms to serve as your reliable partner throughout the procedure.
Oh, that is alarming! Your answers show that you have some serious mishaps in your trade compliance policies. Reach out to iCustoms to cope with all the issues, whether it be unclear records, missing documents, or lack of established protocols, saving you from fines and penalties during an audit.
You’re halfway there! This figure demonstrates that you have the basic trade compliance procedures in place, but it still needs to be improved. iCustoms can assist you with clear agreements, easy documentation, HS code verification, or any other issue you may face.
Solid progress has been made! It is evident from your response that you have a stable grasp of important areas of compliance. However, there could be some other areas requiring additional attention, which may be internal audit procedures, anti-dumping duties, or others.