U.S. completes exempting part of Japan’s steel imports from tariffs

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Washington and Tokyo are in the final stages of talks to exempt some U.S. steel imports from Japan from additional tariffs imposed by former President Donald Trump, sources familiar with the matter said on Saturday.

The two countries are discussing establishing a duty-free import quota, but its size and some other details are yet to be finalized, the sources said.

The United States has imposed additional tariffs of 25% on steel and 10% on aluminum imports since 2018, when the Trump administration cited potential national security risks as part of its foreign policy and commercial “America First”.

The two countries will continue discussions on levies on aluminum imports, the sources said.

The United States under the Trump administration has also imposed additional tariffs on steel and aluminum from the European Union, but the EU has retaliated against US imports.

The two sides agreed last October to introduce a duty-free import quota for a certain amount per year. US tariffs would apply to annual volumes above 3.3 million tonnes of steel from the EU, Reuters reported citing sources familiar with the deal.

Japan has asked for exemptions from Trump-era tariffs. Last November, Japanese Commerce and Industry Minister Koichi Hagiuda and US Commerce Secretary Gina Raimondo agreed to launch negotiations.

The United States is particularly concerned about the impact on its economy of what it says is China’s excessive steel production.

Japanese Minister of Economy, Trade and Industry Koichi Hagiuda (far right) and U.S. Trade Representative Katherine Tai (2nd left) talk in Tokyo on November 17, 2021. (Kyodo) == Kyodo


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