The Harmonized System (HS) code is an internationally standardized system for classifying traded products. Developed by the World Customs Organization, it assigns a unique numerical code to each type of good, facilitating global trade and customs procedures. The HS code helps countries identify products for tariffs, trade statistics, and regulations. Each HS code consists of six digits, which can be extended by individual countries for more specific classifications. This system is crucial for businesses and governments to ensure accurate reporting and compliance with international trade laws. It simplifies the process of importing and exporting goods across borders.