USCIB’s Customs and Trade Facilitation Committee Chair and Vice President of Government and Trade Relations at Hanesbrands Jerry Cook recently posted commentary on the Adam Smith Project blog (formerly known as the American Shipper column).
The commentary urges all World Trade Organization (WTO) members to take necessary steps to join the World Customs Organization’s (WCO) Harmonized System Convention or commit to using it as the basis of the national customs tariff as well as commit to implementing the 2017 Harmonized System in a timely manner, seeking technical assistance from the WCO when applicable.
“The business world likes certainty,” Cook writes. “Understanding the factors that go into such landed costs as customs duties are key to assessing production and distribution costs. If there is any uncertainty over the common language of international trade, it can mean headaches, delay and extra cost.”
Read his commentary on the Adam Smith Project.