Harmonized System (HS)

The Harmonized System (HS) is an internationally standardized method of classifying goods for trade. Developed by the World Customs Organization (WCO), it uses a series of codes to identify products, making it easier for countries to communicate about trade and customs. Each item is assigned a unique numerical code, which allows governments and businesses to track and analyze trade, apply tariffs, and enforce regulations. The HS is updated periodically to adapt to changing trade patterns, ensuring it remains relevant in the global economy. It's essential for simplifying international trade processes and promoting economic cooperation.