Steel Tariff Changes Implemented
Today, 1st July, marks the implementation of the steel tariff changes which impact almost 200 different steel commodities when they are imported into the UK.
Following late amendments to the proposed changes, we count 181 different commodity codes that now fall within the scope. When comparing to the initial announcement of these changes, there have been 11 commodity codes removed from scope while a further five have been added. Each of the impacted commodity codes fall within Chapters 72 &73.
If your products are impacted by the changes, you will notice that the relevant quotas have, on average, been halved in size (51% reduction to be exact) and the duty which is to be paid for goods which fall outside the quota has doubled from 25% to 50%.
If you need help to determine whether your products are within scope, the relevant quota or, how you can work to try and mitigate the changes, please get in touch.
