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Thomson Reuters Releases Innovative Tool that Streamlines the Classification Process for International Trade Professionals

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 Thomson Reuters Checkpoint Global HS tool is a powerful classification engine that contains harmonized schedule and duty rate information for 100 countries and includes create-a-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 (CAS) 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, with the Tax & Accounting business of 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.”