In 2007 the harmonization tariff system as we know it will forever change. Whether those changes are for the better or for the worse it's hard to say since the usual bureaucratic legalese surrounds the news.
Some sources say the changes will affect primarily technology and 'sensitive' product classifications (i.e. that nuclear warhead Iran ordered). Other sources say the whole kit and kaboodle is going to change.
As far as I can tell, the changes are far reaching and will affect the whole enchilada. I've also read rumors that the tariff revisions will not be available until just before they go into effect, which means we'll all be scrambling to catch up. Oh goody. Running after the eight ball is sooo much fun.
You'll need to contact your forwarder and broker and discuss how the harmonization changes will affect your imports and exports. When? Now would be a good time and follow up regularly so you're sure you're on top of things as they develop.
And you'd better start analyzing your systems and processes to figure out the best way to quickly implement the upcoming changes. I know I am. But then again, I have over 40,000 skus that need harmonization codes.
