Thomson Reuters Releases Tool to Streamline International Trade Classification - Global Trade Magazine
  October 13th, 2015 | Written by

Thomson Reuters Releases Tool to Streamline International Trade Classification

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  • The Thomson Reuters HS tool includes chart functionality for easy country-to-country rate comparisons.
  • The Thomson Reuters HS tool allows users to classify imported products efficiently using an intuitive search.
  • The HS tool interprets goods descriptions in everyday language and delivers a correct HS code and duty rate.

Thomson Reuters has announced the release of Checkpoint Global Harmonized Schedules (HS), a tool that makes the harmonized schedule classification process simpler, faster, and more accurate.

The HS tool is a classification engine that contains harmonized schedule and duty rate information for 100 countries and includes chart functionality for easy country-to-country rate comparisons. It allows users to classify imported products more efficiently using an intuitive search, which employs intelligent logic that recognizes eponymous trade names, chemical abstract service numbers, and common acronyms used in international trade.

“Managing global classification is a difficult task that is always subject to customs audits,” said Suzanne Offerman, senior product manager, international trade, at Thomson Reuters. “Global HS helps international trade professionals save time they’d otherwise spend wading through long lists of irrelevant potential matches. The tool interprets goods descriptions expressed in everyday commercial language and delivers a single, correct HS code and duty rate.”