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Global Tariffs, Categorized
🇺🇸 United States
🇬🇭 Ghana
📦 Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99.94 percent, in lumps, pellets or similar forms
🇺🇸 → 🇬🇭

United States to Ghana Trade Analysis for Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99.94 percent, in lumps, pellets or similar forms

Detailed tariff information for Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99.94 percent, in lumps, pellets or similar forms imports

Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99.94 percent, in lumps, pellets or similar forms Tariff Rate

HS Code:

5%
Effective January 1, 2023
View general trade relationship between United States and Ghana

Trade Volume

Value
USD 1.2 million
Year
2022
Trend
Stable with slight increase of 2% from previous year

Special Rates

ECOWAS Preferential Rate
0%
Applicable to goods originating from ECOWAS member states with proper documentation; not applicable for imports from the United States.
Import VAT
20%
Applied on the CIF value plus import duty for all imports unless exempt.

Additional Information

No additional information available.
Last updated: 1 year ago

News and Updates

Recent News
US-Ghana Trade Agreement Boosts Ferrous Product Exports
A new bilateral trade agreement between the US and Ghana has facilitated an increase in exports of ferrous products obtained by direct reduction of iron ore (HS Code: 7203) from the US to Ghana. The agreement focuses on reducing trade barriers for industrial materials.
2023-10-15
Impact: This agreement is expected to increase US exports of spongy ferrous products and high-purity iron to Ghana by 15% over the next year, fostering stronger industrial ties.
Ghana Increases Demand for US Iron Pellets
Ghana's growing steel industry has led to a surge in demand for US-made iron pellets and lumps with high purity (99.94% by weight), driving a spike in imports under HS Code 7203.
2023-09-22
Impact: US suppliers are likely to see a steady rise in orders, with trade volume projected to grow by 10% in the coming quarters, benefiting US ferrous product manufacturers.
Logistics Challenges Impact US-Ghana Ferrous Trade
Recent shipping delays and port congestion in Ghana have temporarily disrupted the supply chain for ferrous products (HS Code: 7203) exported from the US, causing delays in delivery schedules.
2023-08-30
Impact: The disruptions may lead to a short-term decline in trade efficiency, with potential cost increases for US exporters and Ghanaian importers until logistics issues are resolved.
Policy Updates
US-Ghana Trade Facilitation Framework Update
The US and Ghana have updated their trade facilitation framework to include specific provisions for industrial raw materials like ferrous products (HS Code: 7203). This includes streamlined customs processes and reduced tariffs on high-purity iron imports to Ghana.
Date: 2023-10-01
Ghana Introduces New Import Standards for Ferrous Products
Ghana has implemented stricter quality control standards for imported ferrous products, requiring detailed certification for iron purity levels (minimum 99.94% by weight) under HS Code 7203 to ensure compliance with industrial needs.
Date: 2023-07-15