On-demand podcast video
Tax & Tech Talks: 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 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, including strategies and tools that global trade professionals can use to mitigate the disruption of their supply chains.
Key topics discussed:
- Biggest changes in HS that global trade professionals should watch out for
- Consider a 'best practice' approach on how to assign HS numbers to a product
- What can happen when traders misclassify something and its compliance and business impacts
- Technology solutions to help alleviate these changes