HS 722550 Other, not further worked than cold-rolled (cold-reduced)

The duty rates for HS code 722550 can vary significantly depending on the importing country and any applicable trade agreements. For example, under the US Harmonized Tariff Schedule (HTS), the Most Favored Nation (MFN) duty rate is often 0.00%. However, preferential rates under trade agreements like the US-Mexico-Canada Agreement (USMCA) may also be 0.00% for qualifying goods. Conversely, some countries may have higher rates. For instance, the EU's TARIC system and the UK's Trade Tariff list specific rates that can differ. It is crucial to consult the specific tariff schedule of the destination country for the accurate and current duty rate applicable to your shipment.

HS code 722550 specifically covers flat-rolled products of iron or non-alloy steel, with a width of 600 mm or more, that have undergone cold-rolling (also known as cold-reduction). Cold-rolling is a metalworking process where the steel is rolled at a temperature below its recrystallization point, resulting in a smoother surface finish, tighter tolerances, and increased strength compared to hot-rolled steel. The key criteria for this classification are the material composition (iron or non-alloy steel), the form (flat-rolled products), the width (600 mm or more), and the processing (not further worked than cold-rolled). Products that have undergone further working, such as galvanizing, painting, or cutting into specific shapes, would be classified under different HS codes.

When importing goods under HS code 722550, standard international trade documentation is required. This typically includes a commercial invoice detailing the value, quantity, and description of the goods; a packing list specifying the contents of each package; and a bill of lading or air waybill as the transport document. Depending on the importing country and the origin of the goods, a Certificate of Origin may be necessary to claim preferential duty rates under trade agreements. Some countries may also require specific quality certificates or compliance declarations related to the steel products. Always verify the specific documentation requirements with the customs authority of the destination country or consult with your customs broker.

The calculation of import duty for HS 722550 depends on the duty rate applied by the importing country. Duties can be ad valorem (a percentage of the value of the goods) or specific (a fixed amount per unit of quantity). For example, if a shipment of cold-rolled steel coils classified under HS 722550 has a customs value of $10,000 USD and the applicable duty rate is 2.5% ad valorem, the duty would be calculated as: $10,000 USD (Value) × 0.025 (Duty Rate) = $250 USD (Duty Amount). If the duty were specific, for instance, $50 per metric ton, and the shipment weighed 20 metric tons, the duty would be: 20 metric tons × $50/metric ton = $1,000. It is essential to confirm the exact duty rate (ad valorem or specific) and the basis of calculation (value or quantity) from the official tariff schedule of the importing country.

Several trade agreements can impact the duty rates for HS code 722550. For imports into the United States, the USMCA (United States-Mexico-Canada Agreement) may provide duty-free treatment for qualifying steel products originating from Canada or Mexico. For imports into the European Union, the Generalized System of Preferences (GSP) or specific Free Trade Agreements (FTAs) with partner countries can lead to reduced or eliminated duties. Similarly, the United Kingdom has its own set of FTAs post-Brexit that could affect duties. The World Trade Organization (WTO) also plays a role in setting MFN rates. Importers should always investigate if their goods qualify for preferential treatment under any applicable trade agreements by checking the origin rules and preferential tariff schedules of the destination country.