Harmonized Tariff Schedule (HTS)

The Harmonized Tariff Schedule (HTS) is a standardized system used to classify goods for trade across countries. It assigns specific codes to products, helping governments determine customs duties and tariffs as items enter a country. This system ensures consistency in how products are categorized and taxed, making international trade more efficient. The HTS is updated regularly to accommodate new products and changes in trade practices. It's crucial for businesses that import or export goods, as it affects pricing and compliance with trade regulations. Understanding HTS codes is essential for navigating global trade successfully.