Every year, the US International Trade Commission releases changes to the US Harmonized Tariff Schedule (HTS) affecting factors such as duty, classification, trade agreements, etc. These modifications reflect revised legal interpretations, presidential proclamations, and other regulatory and political shifts. Since changes vary drastically from year-to-year, the impact to shippers may be negligible or significant.
HTS changes are typically announced in mid-December and are effective at the beginning of the new calendar year. After publication, we recommend that you closely verify your classifications and duty rates. A slight classification change could result in significant duty increases (or decreases), which can be a catalyst to change sourcing and/or costing considerations. To determine if your goods are eligible for a free trade agreement or if you have questions, please contact a Deringer representative.