What is a Harmonized Tariff Schedule?
The main goal of a harmonized tariff schedule is to create a common reference point for international trade. It gives countries a standard naming system for classifying goods and commodities that cross their borders. Approximately 200 countries around the world base their harmonized tariff schedules on the Harmonized Commodity Description and Coding Systems, also known as the Harmonized System (HS). In addition to the HS, most countries keep their own supplemental tariff information to help track duty rates and trade statistics.
