The Harmonized System (HS) Code is an internationally standardized system of names and numbers used to classify traded products. It's used by customs authorities around the world to identify products for the application of duties and taxes.

HS Codes are organized into 21 sections, which are divided into 99 chapters. Each chapter is further subdivided into headings and subheadings, creating a hierarchical structure that allows for precise product classification.

Using the correct HS Code is crucial for international shipping as it determines import duties, taxes, and regulatory requirements. It also helps in generating accurate trade statistics.