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HTS Explained: The Legal Framework of the Harmonized Tariff Schedule
Definition & Meaning
The Harmonized Tariff Schedule (HTS) of the United States is a comprehensive list that classifies goods imported into the country. It is established under Title 19 of the United States Code, specifically in Section 1202, and is updated regularly to reflect changes in trade policies and international agreements. The HTS provides a systematic way to categorize products, which helps determine the applicable tariff rates and trade regulations for each item.
Table of content
Legal Use & context
The HTS is primarily used in customs and trade law. It plays a crucial role in determining the tariffs that apply to imported goods, which can affect businesses, consumers, and international relations. Understanding the HTS is essential for importers and exporters to comply with U.S. customs regulations. Users can manage some aspects of this process by utilizing legal templates from US Legal Forms, which can assist in preparing necessary documentation for customs compliance.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, if a company imports electronic devices, they must refer to the HTS to find the correct classification for those devices to determine the applicable tariffs. Another example (hypothetical example) could be a business importing textiles, which would need to classify the materials accurately to avoid penalties or delays at customs.
Relevant laws & statutes
The primary statute governing the HTS is Title 19 of the United States Code, specifically Section 1202. This section outlines the establishment and maintenance of the Harmonized Tariff Schedule and its importance in international trade.
Comparison with related terms
Term
Definition
Difference
HTS
Harmonized Tariff Schedule used for classifying imported goods.
Focuses specifically on tariff classifications.
Schedule B
A system for classifying exports from the U.S.
Used for exports, while HTS is for imports.
Customs Duty
A tax imposed on imported goods.
Customs duty is the result of HTS classification.
Common misunderstandings
What to do if this term applies to you
If you are involved in importing goods, it is essential to familiarize yourself with the HTS to ensure compliance with U.S. customs regulations. You can access the HTS online or consult with a customs broker for assistance. Additionally, consider using US Legal Forms' templates to help prepare necessary documentation for customs processes. If your situation is complex, seeking professional legal advice may be beneficial.
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