A tariff and commodity review typically involves analyzing and verifying the classification of goods under the Harmonized System (HS) codes to ensure compliance with trade regulations. Businesses and importers use these services to optimize duty payments, reduce costs, and prevent errors that could lead to penalties or delays.

Here’s what’s generally involved:

• Tariff Classification: Determining the correct HS code for imported or exported goods.
• Duty Rate Analysis: Identifying applicable tariffs and potential duty reductions or exemptions.
• Regulatory Compliance: Ensuring goods comply with trade laws, customs regulations, and international trade agreements.
• Commodity Valuation: Reviewing the declared value of goods for customs purposes.
• Free Trade Agreement (FTA) Reviews: Assessing eligibility for reduced tariffs under various trade agreements.
• Risk Management: Identifying potential risks related to misclassification or underpayment of duties.
• Customs Documentation Audit: Reviewing past declarations for compliance and cost-saving opportunities.

Companies use these services to minimize costs, avoid trade compliance issues, and streamline their global supply chains.