Proper Tariff Classification Matters
Before you can import or export goods, those goods must be classified into categories. In the U.S., imported goods are classified by the Harmonized Tariff Schedule (HTS), which determines the amount of customs duties and taxes to be collected. The classification system is managed by Customs and Border Protection (CBP) and also depends on a variety of national and international laws and regulations.
Proper classification is important. Each country’s customs authority actively reviews imported and exported goods to ensure that they are declared properly. Wrongful declaration impacts duty rates, prohibitions and restrictions, licensing requirements, commodity inspection, and trade statistics. Misclassification can also lead to overpayment of duties and cut into your profit margin. And not following tariff classification laws may result in your goods being seized and held.
Walker World Trade Knows Tariffs
The HTS isn’t the only place to turn for help. Walker World Trade can make sure that your imported and exported goods are placed into appropriate tariff categories. Since 1936, Walker has been providing experienced and trustworthy import and export services. We can help you manage U.S. Customs, Homeland Security, federal government filings, and border protection.
Turn over your concerns about duties, bonds, ISFs and documentation to Walker, and eliminate your need to hire full-time import/export staff. Contact Walker World Trade today, and we will help you start up a successful import and export program. We are experts at what we do.