« New and Bigger Ships Will Mean Better Deals for Shippers, or won’t they?

Supply Chains to Change with Agents »

Next January Will Bring ?Massive? Changes to the Harmonized System. Better Be Ready.

published: cw 21, 2006 in Global Trade & Logistics

Another slew of changes to the Harmonized Tariff System (HTS) is on the way, and shippers had better be prepared for them, says Bernie Hart, global product executive with JPMorgan Chase Vastera.

Writing in the company?s April customer newsletter, he notes that ?massive? updates by the World Customs Organization take effect on Jan. 1, 2007. Virtually all sections will have changes, including new sub-headings and more specific product classifications that will impact many rules of origin within preferential trade programs. ?The changes will likely revise your import cost structure, and will require significant administrative effort to implement,? Hart said. Disruptions to supply chains are also possible. Hart called on companies immediately to identify the products that will be affected by the change, monitor ongoing government actions, begin re-classification of products to the six-digit level or greater, and communicate with the supply base, among other things.

For download on Harmonized System news and documents click here

Source: JP Morgan Vastera


----- Advertisement -----
First edition, paperback, isbn 978-9-0787-4401-6 First edition, hardcover, isbn 978-9-0787-4402-3
The Glossary of Terms in Logistics & Shipping is the most comprehensive paper-based dictionary and therefore the standard for defining terms used in the area of Logistics and Shipping.

Use this powerful tool to expand your professional vocabulary and ensure that everyone on your team is speaking the same language.


www.theKnowledgeTransfer.com
First edition, paperback, isbn 978-9-0787-4401-6
paperback student version
$ 19,99


First edition, hardcover, isbn 978-9-0787-4402-3</a>
hardcover executive version
$ 29,99

| Permanent Link | Print This eLog |

(Visited over 19373 times)