Beginning October 18th, US importers of South Korean steel products subject to absolute quota limits will be required to provide “valid and properly executed certificates of exportation.” US Customs and Border Protection (CBP) announced the requirement in a Federal Register, dated September 18th. The quota will allow South Korea to avoid Section 232 tariffs.
The Korea Iron and Steel Association will issue official certificates of exportation for steel goods covered by the quota, specifically subheadings 9903.80.05 through 9903.80.58. The certificates will be available by applying through the Korea Iron and Steel Association’s website, CBP said.
According to the Federal Register, “Importers should obtain these certificates of exportation from exporters and submit them to CBP with the entry summaries filed for their importations. For entries filed through ACE, additional guidance on the submission of certificates of export is available in a draft portion” of the CBP and Trade Automated Interface Requirements (CATAIR) for entry summary filings.
If you have additional questions, please contact Deringer’s Compliance Department or the service center managing your account.