Wednesday, November 25, 2020

Tag: How Import Chinese Steel Tariff-Free: Change the Label to Turbine Parts

How Import Chinese Steel Tariff-Free: Change the Label to Turbine Parts

0

by Mish Shedlock, The Maven:

18,927 product codes provide countless ways to avoid tariffs by relabeling. Evidence suggests that’s happening.

Switching around the 18,927 codes that identify imported goods is an increasingly popular way some Chinese exporters are ducking American tariffs according to the Wall Street Journal report: New Era of Tariff Dodges.

Every product imported into the U.S. carries a 10-digit designation called an HTS code, of which there are 18,927 in all. Like a taxonomic version of Noah’s Ark, the code provides a common language to bridge disparate markets and identify products in all their variety.