HS 722990 Other

HS code 722990, classified as 'Other' wire of other alloy steel, often has varied duty rates depending on the importing country. For instance, the United States applies a Most Favored Nation (MFN) duty rate of 3.7% ad valorem. However, preferential rates may be available under trade agreements. For example, goods originating from countries with a Free Trade Agreement (FTA) with the US may enter duty-free. To determine the exact rate applicable to your shipment, consult the official tariff schedule of the importing country, such as the US International Trade Commission (USITC) Harmonized Tariff Schedule (HTS) for the US, or the EU's TARIC database for European Union imports. Always verify the country of origin and the specific trade agreement provisions.

HS code 722990 covers wire of alloy steel, not elsewhere specified. The key differentiator is the composition of the steel. Alloy steel, by definition, contains one or more elements (such as manganese, silicon, nickel, chromium, molybdenum, vanadium, or tungsten) added in specified amounts to improve its mechanical properties. If the wire does not meet the specific chemical composition or other criteria for classification under more specific subheadings within Chapter 72 (e.g., for stainless steel or high-speed steel wire), it falls under 722990. Importers must have a detailed chemical analysis or mill test certificate from the manufacturer to confirm the alloy content and ensure correct classification.

When importing wire of other alloy steel under HS code 722990, standard customs documentation is required. This includes a commercial invoice detailing the quantity, value, description, and HS code of the goods; a packing list; and a bill of lading or air waybill. Crucially, a certificate of origin is often necessary to claim preferential duty rates under trade agreements. For alloy steel products, a mill test certificate or a chemical analysis report from the manufacturer is highly recommended to substantiate the alloy content and confirm compliance with the classification criteria for HS 722990, especially if challenged by customs authorities.

The import duty for HS code 722990 is typically calculated on an ad valorem basis, meaning it's a percentage of the declared customs value of the goods. For example, if the MFN duty rate for HS 722990 in the United States is 3.7%, and you import 1,000 kilograms of alloy steel wire with a declared customs value of $5,000 USD, the duty calculation would be: Duty = Customs Value × Duty Rate. In this case, Duty = $5,000 × 3.7% = $5,000 × 0.037 = $185 USD. Some countries may also apply specific duties based on weight (e.g., per kilogram), or a combination of ad valorem and specific duties. Always refer to the specific tariff schedule for the applicable duty calculation method.

Major trade agreements can significantly impact the duty rates for HS code 722990. For example, the United States has Free Trade Agreements (FTAs) with countries like Mexico and Canada (USMCA), and previously with South Korea (KORUS). If the wire of other alloy steel originates from a country that is a party to such an agreement, and meets the rules of origin stipulated in that agreement, it may be eligible for preferential duty rates, often 0% ad valorem. To leverage these agreements, importers must obtain a Certificate of Origin from the exporter that meets the specific requirements of the FTA and be prepared to present it to customs authorities upon request. Consulting the relevant trade agreement text and the importing country's customs regulations is essential.