For businesses involved in global trade, navigating international shipping regulations is essential. This comprehensive guide seeks to unravel the complexities of these regulations, offering valuable insights to streamline the international shipping processes and ensure compliance, facilitating smoother operations and reducing potential risks for businesses in the global market.
The International Shipping Regulations
3. Harmonized Tariff Schedules (HTS): Harmonized Tariff Schedules (HTS) are a classification system for goods imported into the US based on name, make, and intended use. The correct tariff on imported products determines the applicable duty rates, compliance with existing trade sanctions and embargoes, and the qualification for exemption under trade agreements with the country of origin
4. Compliance with Export Controls: Address the importance of complying with export controls to avoid legal issues and penalties. Explore key considerations for businesses, such as restricted goods, licensing requirements, and adherence to international trade embargoes.