Wove offers free tariff change information service
As the new year begins, logistics providers are bracing for over 2.5 million rule changes across 40-plus Harmonized Tariff Schedules in the next 18 months. To help with this, a startup called Wove is providing free workflow automation and document ingestion tools for freight forwarders and customs brokers.
Wove’s system can automate tasks such as creating shipments in CargoWise, creating custom entries, and automating emails and quotes. The company’s co-founder and CEO, Jay Edlin, said Wove realized it could repurpose its technology to understand the unstructured documents in shipping and logistics and apply it to the U.S. Harmonized Tariff Schedule.
The HTS is published mostly in PDFs, making it difficult to understand. Wove’s system can ingest and structure this data, making it easier for logistics providers to use. Edlin said the company decided to build a free tariff calculator after FlexPort removed access to its free tariff calculator for many users.
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Within a couple of days of launching its tariff calculator, Wove was hosting the industry’s leading free tariff calculator, with thousands of users every week. The tariff simulator can be used to go back in time and compare what the duties were on entry dates from last year, and that’s really actually helped companies go into the IEEPA refund calculations. Edlin said Wove has been working with companies to help them calculate their tariff refunds.
Wove’s system can automate the process of updating tariff changes, with AI agents that can reason about a goal and take actions to complete it. Edlin said these agents can turn around changes, such as the recent Section 301 changes, in about an hour.
Logistics providers are staying ahead of the curve with Wove’s system. It is making it easier for providers to handle the complex world of tariffs and trade agreements.
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One potential outcome of Wove’s efforts is that it could help reduce the complexity and uncertainty surrounding tariff changes, making it easier for logistics providers to plan and operate. The company will continue to develop its system and expand its customer base, and its approach to providing free access to tariff data will impact the industry.
Importers and manufacturers are plugging Wove’s data into their own systems via an API, allowing them to streamline their operations and make more informed decisions.
