November 23, 2021
In January 2022, the WCO will launch the newest version of the Harmonized Tariff. Every five years the Harmonized system is reviewed and modified to take into account technology advances, new popular products that do not readily fit into their own heading and assisting countries to better measure their trade statistics.
This year there has been a great focus on ecological concerns and products designed to detect or tackle viruses.
HS 2022 is the seventh edition of the Harmonized System, here are some of the highlights:
Codes added or adapted to take into account new products (not an exhaustive list)
Addressing environmental and social issues of global concern
Reconfiguring of certain sub-headings to take into account technical advances enabling the trade statistics to be better measured
Link to the WCO document outlining the amendments available here
EU 385/2021 containing the 2022 tariffs here
Crane Trade Services can assist you with questions regarding this matter. For assistance please contact CWTSConsulting@craneww.com.
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