As it does approximately every 5 years, the WCO recently adopted a recommendation that lists the most recent proposed amendments to the Harmonized Tariff Schedule (HTS), which would enter into force January 1, 2017. In order to better monitor and control trade patterns of certain goods and adapt the HTS to current trade patterns, more than 200 changes have been proposed to modernize rules and classifications for various goods. The U.S. International Trade Commission (ITC) will be expected to post a Federal Register Notice this fall detailing the proposed changes. Members of the Trade community may raise comments or objections to the U.S. Trade Representative (USTR), U.S. Customs and Border Protection (CBP), and the ITC, since all three agencies negotiate on behalf of the U.S. to the WCO.
For global logistics and trade compliance professionals, 2022 has been the year of significant changes, and CBP is keeping us on our toes as secure trade becomes an even greater focus across companies and customs organizations worldwide. As a business, your goal is to keep goods moving seamlessly, which is why it’s more important now than ever to understand how changes to the program will affect operations across your enterprise.