Important changes have been made to the international harmonized code system used by exporters. The World Customs Organization (WCO) reviews the classification system around every five years, including approximately 5,000 commodities groups and more than 200,000 products.
As China’s economy continues to grow, we often talk about it in terms of its global presence. As the geopolitical repercussions of its actions as an economic superpower take center stage, its importance to Illinois as an export market tends to be eclipsed.
Illinois small businesses seeking to increase exports should be aware of a new grant program offered through the State of Illinois Office of Trade and Investment (OTI). The agency received $1,265,477 in funding the State Trade and Export Promotion Program (STEP).