Will the new updates to the 2022 HTSUS impact you that will be going into effect on January 27th, 2022?
Every 5-6 years the WCO updates the HTSUS to conform to the new developments in technology and any changes in trade patterns.
2022 will be the 7th edition of the HS that will go into effect on January 27th, 2022, which will bring sweeping changes to how the international trade community classifies their products. This edition will bring a total of 351 sets of modifications covering a large range of products.
Major reconfigurations have been applied for subheadings of 7019 which is for glass fibers and articles thereof and for subheading 8462 for metal forming machinery. Goods specifically controlled under various Conventions have also been updated.
Importers should review the changes that have been made to the HTSUS in conjunction with the current classifications to determine what products of theirs will be affected by these modifications. These changes in the HTSUS schedule may affect duty rates, Free Trade Agreement eligibility, tariffs, and customs compliance.
By being proactive with reviewing these changes, identifying what changes will impact you and working with your customs broker will help to expedite your customs clearance to avoid supply chain delays as well to avoid costly compliance issues.
If you have questions or need further assistance, please contact us at email@example.com and one of our compliance specialists can work with you to ensure you are up to date.