Global Trade Edition: 2022 World Customs Organization changes and how technology can help global traders

Since 2020, supply chain disruptions have continued to mount, which has resulted in these unprecedented changes. Everything from the chips for computers to living room sofas is causing many delays to suppliers, factories and customers. More disruptions are coming, As the World Customs Organization makes their every 5-year large Harmonized System changes effective January 2022, introducing 351 sets of amendments covering a wide range of goods across industries. In this episode, global trade experts Suzanne Offerman talk to Virginia Thompson and Brandon Jones as they unpack the new changes to the HS rolling out in 2022, including strategies and tools that global trade professionals can use to mitigate the disruption of their supply chains.

Our experts share key takeaways on the following challenges and more:

• What the biggest changes in HS that global trade professionals should watch out for
• What a 'best practice' approach on how to assign HS numbers to a product looks like
• What happens when traders misclassify something and what the compliance and business impacts
• How can technology help alleviate these changes

Helpful Resources:

Suzanne Offerman LinkedIn

Virginia Thompson LinkedIn

Brandon Jones LinkedIn

Key updates in the Harmonized System 2022 Edition

2022 tariff schedule will reflect new product streams and global environmental & social issues

Overcoming classification obstacles

ONESOURCE Global Classification

Tax & Tech Talks: How tech tools help mitigate supply chain disruption