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The Harmonized Tariff Schedule classifies a good based on its name, use, and/or the material used in its construction and assigns it a ten-digit classification code number, and there are over 17,000 unique classification code numbers.
Global map of countries by tariff rate, applied, weighted mean, all products (%), 2021, according to World Bank.. This is a list of countries by tariff rate.The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
The process of assigning HS codes is known as "HS Classification". All products can be classified in the HS by using the General Rules for the Interpretation of the Harmonized System ("GRI") that must be applied in strict order. HS codes can be determined by a variety of factors including a product's composition, its form and its function.
This code was developed by the World Customs Organization based in Brussels. A 'Harmonized System' code may be from four to ten digits. For example, 17.03 is the HS code for molasses from the extraction or refining of sugar. However, within 17.03, the number 17.03.90 stands for "Molasses (Excluding Cane Molasses)". [citation needed]
Trump, who takes office on Jan. 20, 2025, said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the ...
The Harmonized Tariff Schedule provides the applicable tariff rates and statistical categories for all merchandise imported into the United States. [4] This lengthy schedule includes 99 chapters and provides rates of duty for each class of goods. [ 5 ]
Trump’s plan for tariffs, tax cuts, reduced regulation, and a crackdown on immigration could lead to inflation rising by 2.7% by the end of 2025, JPMorgan hedged, with the Fed funds rate rising ...
Parts of this article (those related to details on how the United States–Mexico–Canada Agreement impact tariffs and on the China-US trade war) need to be updated. ...