What are HS Codes?
The Harmonized System (HS) is an internationally standardized system of names and numbers for classifying traded products. Developed by the World Customs Organization (WCO), HS codes are used by customs authorities around the world to identify products when assessing duties and taxes. These codes are essential for international trade, facilitating the process of goods crossing international borders. HS codes are used in almost every international shipment and vary in format based on the country.
What are HTS Codes?
Harmonized Tariff Schedule (HTS) codes are an extension of HS codes, used primarily in the United States. The HTS code includes a 10-digit import classification system specific to the United States. These codes are crucial for determining import duties and gathering statistics on imported goods. The HTS code system adds further specificity to the general HS code, making it more precise for customs officials to classify imported goods accurately.