The importance of the HS to tariff classification: thoughts from the IFCBA
30-06-2018
The WCO website tells us that tariff classification using the Harmonized System (HS) Nomenclature “allows a world of many languages to speak with one.” As we mark the 30th anniversary of the
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official adoption of the HS in 1988, few could argue against the value of this universal language that has brought great clarity to the world of trade. With 157 Contracting Parties to the HS Convention basing their domestic Customs tariffs on the HS, and dozens more using it despite not being signatories, the HS truly is the language of international trade. It is currently used by more than 200 countries that comprise approximately 98% of world trade.
International Federation of Customs Brokers Associations