U.S. rolls back Trump-era tariff on Japanese steel

Feb 08, 2022 | News On Japan

Feb 08, 2022 (Nikkei) - The U.S. has reached a deal with Japan that will lift a portion of the additional 25% tariff imposed on steel imports under former President Donald Trump in 2018.

Washington will introduce a tariff-rate quota under the agreement announced Monday, suspending the duties on Japanese steel shipments up to 1.25 million tons a year -- the average imported in 2018 and 2019 -- starting April 1.

"Today's announcement builds on the deal we struck with the EU and will further help us rebuild relationships with our allies around the world as we work to fight against China's unfair trade practices," U.S. Commerce Secretary Gina Raimondo said in a statement.

The Trump administration imposed the additional 25% tariff on steel and a 10% tariff on aluminum from markets like Japan and the European Union under Section 232 of the Trade Expansion Act of 1962, which allows the president to restrict shipments seen to pose national security concerns.

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