Proper valuation is necessary to correctly calculate Customs duties, taxes, and fees. Come join us as we discuss different value calculation methods, related-party transactions, and how to document your work so that you’re prepared for any questions that might arise.
HTSUS Classification
HTSUS Classification
November 10, 2021/
Accurate classification is all about the details.
This conversation discusses the fundamentals of HTSUS Classification and why it matters to your organization. Avoid common mistakes and learn fundamentals to keep your company compliant.
The Harmonized Tariff Schedule of the United States (HTSUS) is the legal basis for application of tariffs and duty rates. It also informs any tariff-related programs, including USMCA and other Free Trade Agreements, AD/CVD, Section 232, Section 301, and many more.
There are more than 18,000 HTSUS classifications across 22 Sections and 99 Chapters. The HTSUS is 10 digits long: the first six from the HS plus two at the Tariff-Item level where duty rates are applied and two more for statistical reporting.
Topics Include:
- Navigating the HTS
- Classification of Parts
- Parts of General Use
- HTS Variants
- Explanatory Notes
- Legal Notes
- How to Classify
- Examples & Best Practices
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