CBP Provides Guidance on Import Duties on Imports of Steel and Steel Derivative Products
CBP provided guidance on the 25% import duty for all imports of steel articles and derivative steel articles from all countries via a March 7 cargo systems message. This import duty is effective on 12:01 a.m. EDT on March 12 (see 2503030054).
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The guidance provides Harmonized Tariff Schedule numbers for imported steel articles and derivative steel articles entered for consumption, or withdrawn from warehouse for consumption, at just after midnight on March 12.
The guidance also provides some additional clarity on the subheading of steel derivatives whose effective date is not on March 12 but is yet to be determined by the commerce secretary. Subheading 9903.81.91 covers "derivative iron or steel products listed in subdivision (n) (new steel derivative articles not classified in Chapter 73 subject to Section 232)," and "the import duty is on the value of the steel content."
"For new steel derivatives outside of Chapter 73, the 25 percent duty is to be reported with HTS 9903.81.91 based upon the value of the steel content. If the value of the steel content is the same as the entered value or is unknown, the duty must be reported under HTS 9903.81.91 based on the entire entered value, and report on only one entry summary line," CBP said.
"In the case where the value of the steel content is less than the entered value of the imported article, the good must be reported on two lines. The first line will represent the non-steel content while the second line will represent the steel content," CBP continued.
The guidance also addresses melt and pour reporting requirements, exclusions and drawback, quotas, foreign trade zones and reporting multiple HTS numbers.