The Latin American country of Honduras has decided to modify a tariff imposed on flat rolled steel products imports, reducing duties by -10%. This measure follows supply problems for the domestic construction sector, Kallanish learns from an official release. The new tariffs will range from 15-25% depending on the product.
In the document, the Honduran Secretary of Economic Development (SDE) notes that “… the reduction of duties looks to ensure the supply of flat steel and other derivatives to domestic market and to guarantee price stability to final consumers”.
According to the SDE, the products are classified under HS codes 7210.41.10.00, 7210.49.10.00, 7210.49.50.00, 7210.61.10.00.01, 7210.70.10.00.01, 7210.70.10.00.02, 7212.20.00.00, 7212.30.10.00, 7212.30.90.00, 7225.91.00.00, 7225.92.00.00, 7225.99.00.00, 7226.99.10.00, 7226.99.90.00 and 7308.90.00.00.
Honduras originally imposed a 35% surcharge on flat steel imports in January 2017.