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Harmonized system

The Harmonized System (HS) is a globally standardized classification system for traded products, simplifying customs procedures and tariff calculations. Developed by the World Customs Organization (WCO), it assigns unique codes to goods for uniformity in trade. With a hierarchical structure, the HS provides broad and detailed classifications, aiding customs declarations and trade statistics. Widely adopted, it promotes efficiency in customs, trade negotiations, and statistical analysis.