HS Code 7214 Tariff: South Korea to United States

Current tariff rates for other bars and rods of iron or nonalloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling: (HS code 7214) imported from South Korea to the United States.

Hedge tariff risk: Trade tariff prediction markets on Ballast Markets to lock in costs and protect margins against future tariff changes.

Current Tariff Rate (2025)

| Component | Rate | Details | |-----------|------|---------| | MFN (Column 1) | 0% | Most-Favored Nation base rate |

Trade Volume (2023)

No recent Census Bureau trade data available for this HS code + country combination. This may indicate:

Low or zero trade volume
New tariff classification
Trade data aggregated under different HS code

Tariff History

2018-03-23: Section 232 tariff imposed (25%)

Landed Cost Impact

Example Calculation for HS 7214 from South Korea:

| Cost Component | Amount | % of Total | |----------------|--------|------------| | FOB Price | $1000 | 65% | | Ocean Freight | $150 | 10% | | Insurance | $15 | 1% | | Customs Duties (25%) | $250 | 16% | | Inland Transport | $120 | 8% | | Total Landed Cost | $1535 | 100% |

Tariff Cost Impact: Without tariffs, landed cost would be $1285 → tariffs add $250 (19% increase).

Comparison to Alternative Sources

| Country | Typical Tariff | Price Advantage | |---------|---------------|-----------------| | South Korea | 25% | Baseline | | Mexico | 0% (USMCA) | -25% tariff cost | | Canada | 0% (USMCA) | -25% tariff cost | | China | 25% | Equal | | Vietnam | 0% MFN | -25% vs South Korea |

Note: Actual tariff rates vary by specific product classification and country-specific trade agreements. Verify with customs broker.

Hedging Strategies

1. Tariff Prediction Markets

Problem: Tariff rates can change with 30-90 days notice via USTR actions.

Solution: Tariff prediction markets allow you to hedge:

Example:

Exposure: $10M annual HS 7214 imports from South Korea
Current tariff cost: $2.5M (25%)
Risk: Tariffs increase to 50% → additional cost
Hedge: Buy "US-South Korea Tariff > 35% by Q4 2025" position

Learn more: How to Hedge Tariff Risk

2. Sourcing Diversification

Strategy: Split sourcing between South Korea and USMCA countries to hedge tariff volatility.

Example Mix:

60% from South Korea (25% tariff)
40% from Mexico (0% tariff via USMCA)
Blended rate: 15% (vs. 25% all-South Korea)
Annual savings: $0.0B

3. Pre-Tariff Stockpiling

If tariff increase expected:

Order 3-6 months inventory before effective date
Cost: Increased working capital (inventory holding)
Benefit: Lock in current 25% rate vs. potential 50%

Related Tariff Pages

HS Code 7214 Overview - Product classification guide
South Korea-US Trade Profile - Bilateral trade overview
Section 301 Tariffs Explained - China trade actions
USMCA Qualification - 0% tariff requirements

Sources

U.S. International Trade Commission (USITC) HTS Database (accessed 2025-11-04)
USTR Section 301/232 Tariff Lists

Risk Disclosure

This content is for informational and educational purposes only and should not be construed as financial, legal, or investment advice. Tariff rates are subject to change based on government policy and trade negotiations. Verify current rates with U.S. Customs and Border Protection (CBP) or qualified customs brokers before making sourcing decisions. Prediction markets involve risk of loss.

Disclaimer

Ballast Markets provides this content as a free educational resource for the global trade community. Tariff data is sourced from USITC and USTR but may contain errors or be outdated. For compliance purposes, always verify rates with official sources. Trade statistics from Census Bureau may have reporting delays.

Last updated: 2025-11-04