2007 HTS Updates
By SwizStick • Aug 29th, 2006 • Category: Education, Supply Chain Management
Riskape, always a good read, links to an important white paper from JPMorgan Chase’s Vastera unit on upcoming changes to the HTS (Harmonized Tariff System). Rob @ Riskape:
Although the WCO’s intent is to make the changes “rate neutralâ€, there is significant risk of products being reclassified into higher duty classifications, either simply by chance or by a renewed focus by various customs bodies. Additionally, due to the massive overhaul that the classification system will undergo, “one-for-one†mapping (old classification to new classification) will not always be possible - further complicating the update process.
His full post, with link to the white paper, is here.
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