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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.
The codes and the descriptions of goods established on the basis of the combined nomenclature shall replace those established on the basis of the nomenclatures of the Common Customs Tariff and the Nimexe. It is established on the basis of the Harmonized System. The combined nomenclature shall comprise : (a) the harmonized system nomenclature ...
There are 6 General Rules in all, which must be applied in consecutive order. GRI 1 prescribes how to classify products at the 4-digit Heading level, based on the wording of the headings and the relative HS Section and Chapter Notes.
The TARIC code (TARif Intégré Communautaire; Integrated Tariff of the European Communities) is designed to show the various rules applying to specific products when imported into the EU.
Commodity Main exchange MIC Contract size Symbol Corn: CBOT: XCBT: 5000 bu C/ZC (Electronic) Corn EURONEXT: 50 tons EMA Corn DCE: XDCE: 10 metric tons c Oats CBOT: XCBT: 5000 bu O/ZO (Electronic) Rough Rice CBOT: XCBT: 2000 cwt: ZR Soybeans CBOT: XCBT: 5000 bu: S/ZS (Electronic) No 2. Soybean DCE XDCE: 10 metric tons b Rapeseed: EURONEXT 50 ...
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The first commodity super cycle started in late 1890 and was accelerated on the back of widespread U.S. industrialization and World War 1. In 1917 commodity prices peaked and then entered a downtrend to the 1930s. As war erupted in Europe in the late 1930s and eventually including the U.S. the world saw a new cycle begin.
The United Nations Standard Products and Services Code (UNSPSC) is a taxonomy of products and services for use in eCommerce. It is a four-level hierarchy coded as an eight-digit number, with an optional fifth level adding two more digits. The latest release (August 14, 2023) of the code set is 26.0801. [1]