Correct classification of your products is the cornerstone of your product trade data. It can determine duty rate, FTA eligibility, applicability of additional tariffs, antidumping and countervailing duty, export license requirements and other factors necessary for compliant, cost-effective international trade. See below for information on some important types of product classification, and what TCP can do for you.
US Harmonized Tariff Classification (HTSUS)
The classification of goods is a vital part of the importation and entry process. At a minimum, incorrect classification may lead to delays and increased duties (plus interest). The failure to use reasonable care when assigning product tariff classification may also lead to detention or seizure of the merchandise, and the imposition of civil or criminal penalties. Put simply, the correct assignment of your import tariff classification is a necessity. TCP’s experts can accurately determine your product’s HTSUS. Whether one item, or a product database of 1000+ SKU’s, TCP’s classification assignment process is scalable, and our team has the knowledge and experience necessary to assign correct tariff classification to a broad range of products. Contact TCP today for more information on how we can tailor a solution to your classification needs.
Export Control Classification Number (ECCN) Classification
Often overlooked, identification of your product’s correct ECCN is of paramount importance when exporting from the US. An exporter must assign a correct ECCN to both products and technology, adding an extra layer to an organization’s export compliance requirements. The ECCN can determine export eligibility, export license requirements, and other key components of the export process. Our experienced team brings the necessary tools and background to assign a correct ECCN to myriad products and technologies. Contact us for more information on ECCN assignment.
Schedule B Classification
Similar in structure and configuration as the HTSUS, the Schedule B number is the HTSUS’ export equivalent. It does not, however, determine duty rates and tariff applicability. It is necessary for compliant filing of export data with the US Census Bureau and enables the Census Bureau to track the amount of trade goods that are being exported from the United States. Contact TCP today and let us review your export product database to ensure that your data is up to date.
