Background

U.S. Customs and Border Protection has announced that imports of steel products of Korea covered by the absolute quotas applicable to HTSUS subheadings 9903.80.05 through 990.80.58 must be presented with valid and properly executed certificates of exportation. This requirement will become effective for such goods entered or withdrawn from warehouse for consumption on or after Oct. 18.

CBP notes that only exporters may obtain the required certificates, which they may apply for online via the Korea Iron and Steel Association website. Importers should obtain these certificates from exporters and submit them to CBP with the entry summaries filed for their imports.

The quota on steel products from Korea was imposed in April 2018 in return for Korea’s exclusion from the 25 percent additional tariff the U.S. imposed on global imports of such goods. The quota restricts the quantity of steel articles imported from South Korea to 70 percent of average shipments between 2015 and 2017, or about 2.7 million tons. In July 2018 CBP announced that this quota would be subject to a quarterly threshold of 500,000 kg and 30 percent of the total annual limit.

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