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  • The Straight Wire

Costs associated with importing to the United States for steel products

Updated: Jan 27, 2023


Want to know the add-on costs & to compare the final importing costs against interstate buying prices?


Find out how much you could save ultimately by switching to us with the straight wire?


We could submit the ISF(Importer Security Filing)on buyer's behalf, as we are set up as domestic importer too. U.S. Customs requires that it is filed at least 24 hours before the vessel is loaded.



ISF FORM EXAMPLE



Steel imports must have a steel license. We can apply for this on the importer’s behalf through our brokers.

On China origin steel under 7217.10 and 7215.50, there is a partial reduction of the additional China tariff. It is 7.5% (as opposed to the 25% China Tariff). Note that other headings may be subject to the 25% China tariff. Please check with us for your product name.

On steel imports originating anywhere except Canada and Mexico, there is a 25% additional steel tariff under Section 232.

Costs:


  • Duty

7.5% - China tariff based on value of commercial invoice excluding transport costs

25% - Steel tariff based on value of commercial invoice excluding transport costs

  • General U.S. taxes

.3464% of value of commercial invoice – U.S. Customs’ Merchandise Processing Fee (MPF) - Min $29.66 Max $575.35

.125% of value of commercial invoice – U.S. Customs’ Harbour Maintenance Fee (HMF)


  • Import entry fees

$75.00 – ISF / per B/L

$200.00 – U.S. Customs’ clearance / per B/L

$150.00 – Steel License / usually valid for an amount of product (value or tonnes)

  • Customs Surety Bond

$450.00 Customs Surety Bond, unless the importer already has one. We already have this so you don't need to get one. It is good for a year, subject to renewal upon expiry.

2% - Disbursement Fee on the amount of duty and fees paid to U.S. Customs




Example Product we have under this regime:



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