HS 722240 Angles, shapes and sections

For HS code 722240, which covers angles, shapes, and sections of stainless steel, the Most Favored Nation (MFN) duty rates are often 0.00% in many major economies. For instance, the United States applies a 0.00% MFN duty rate. The European Union, under TARIC, also generally lists a 0.00% duty for this classification. However, it is crucial to verify the specific rate for the importing country and the origin of the goods, as preferential agreements or specific trade policies can alter these rates. Always consult the official tariff database of the destination country.

If a duty is applied to HS code 722240, it is typically calculated as an ad valorem rate (a percentage of the declared value of the goods) or a specific rate (a fixed amount per unit of weight or measure), or a combination of both. For example, if a shipment of stainless steel angles valued at $10,000 USD is imported into a country with a 2.5% ad valorem duty rate, the duty would be calculated as: $10,000 (Value) × 0.025 (Duty Rate) = $250.00 USD. Always confirm the basis of duty calculation (ad valorem, specific, or compound) with the importing country's customs authority.

To be classified under HS code 722240, the product must be an angle, shape, or section made from stainless steel. Key criteria include: 1. Material Composition: The steel must contain a minimum of 10.5% chromium by weight and not more than 1.2% carbon by weight, meeting the definition of stainless steel under Chapter 72 of the Harmonized System. 2. Form: The product must be worked into specific profiles like 'L', 'T', 'U', or other structural shapes, distinct from flat-rolled products (sheets, plates, strips) or bars and rods. These shapes are typically produced by hot rolling, cold forming, or extrusion. 3. Surface Finish: While various finishes are permissible, the primary characteristic is the structural shape.

Preferential duty rates for HS code 722240 can be influenced by various trade agreements. For example, goods originating from countries that are part of the European Union's network of Free Trade Agreements (FTAs) may benefit from reduced or eliminated duties when imported into the EU. Similarly, goods originating from Canada or Mexico may benefit from preferential rates under the United States-Mexico-Canada Agreement (USMCA). Importers should consult the specific trade agreement between the exporting and importing countries and ensure that the goods meet the rules of origin requirements to claim preferential treatment. The USITC's Harmonized Tariff Schedule (HTS) and the EU's TARIC database are essential resources for checking these preferential rates.

Standard import documentation for HS code 722240 generally includes a commercial invoice detailing the value, quantity, and description of the goods; a packing list; and a bill of lading or air waybill. Depending on the importing country and the origin of the goods, a certificate of origin may be required to claim preferential duty rates under trade agreements. For stainless steel products, customs authorities might also request documentation confirming the material composition (e.g., mill test certificates) to verify it meets the definition of stainless steel as per Chapter 72 of the Harmonized System. Always verify specific requirements with the customs broker and the destination country's customs agency.