December 22, 2016
While many people around the world are working on the implementation of changes to customs tariffs resulting from the 2017 Harmonized System (HS) Edition which comes into force on January 1st, the work on a future set of amendments, which is scheduled for implementation in 2022, has already started.
The HS Review Sub-Committee met at the World Customs Organization's (WCO) Headquarters in Brussels from December 12 to 16 and considered a wide range of amendments to the HS submitted by HS Contracting Parties and international organizations.
Half a day was devoted to a special session titled "HS 2022 - Dialogue with stakeholders". During this session, representatives from the industry, Customs brokers and WCO Member administrations made presentations on various topics related to the updating of the HS Nomenclature.
Within the subjects discussed, representatives from the automotive and semiconductor industries explained trends in technology and future developments and the impact those may have on tariff classification in the future.
The agreed amendments to HS 2022 will be compiled over the next two years and submitted to the WCO Council for adoption in June 2019.