3 Steps to Verify the Impact of the New Steel and Aluminum Tariffs on Your Project
Is your budget taking a hit because of the new tariffs on steel and aluminum?
Here are 3-steps to help verify the impact on your project:
- Fabricated Material vs. Raw Material
Verify where fabrication is taking place. The tariffs do not apply to fabricated materials, only raw materials.
- Countries with Exemptions
Some countries are exempt from the tariffs completely and others are exempt only from specific steel and aluminum tariffs. Reference Section 232: Tariffs on Aluminum and Steel and verify its application with your supplier.
- HS Codes
“Harmonized System” Codes are used internationally to classify products. Identify which HS codes applies to your goods and the associated impact.
Scroll down to Section XV of the Harmonized Tariff Schedule (2018 HTSA Revision 5) and check in Chapters 72 and 76 for #steel and #aluminum.
Watch the Hearing on Steel and Aluminum Tariffs Live July 24, 2018 at 2:00