WTO Releases New Tool to Navigate Product Nomenclature Changes
The World Trade Organization released a new online tool for tracking changes to the Harmonized Commodity Description and Coding System (HS) -- the system used to classify traded goods, the WTO said. The HS Tracker was developed with the World Customs Organization and is meant to aid customs officials and traders in preparing for HS amendments set to take effect Jan. 1, 2022.
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"The HS Tracker brings together relevant information and documents relating to revisions to HS product nomenclatures, often resulting from changes in manufacturing processes and technological advancements, or developments in environmental and social issues," the WTO said. The "Subheading Visualizer" feature of the tracker shows how a specific HS code has changed across different versions of the HS, with an explanation of why there was a change, while the "HS at a Glance" feature gives a broad overview of the HS amendments by consolidating the different versions of the HS. A user can also simultaneously search multiple HS nomenclatures for a certain set of codes to find whether they were affected by a specific amendment to the HS, the WTO said.