On February 7, 2022, the USTR announced a deal to partially rollback the Section 232 tariffs on steel from Japan through the use of a tariff rate quota (“TRQ”). The TRQ will be set to allow for the importation of historically-based volumes of Japan steel products without the assessment of Section 232 tariffs. Highlights of […]
TRQ
SECTION 232 TARIFF RELIEF ANNOUNCED ON IMPORTS OF STEEL AND ALUMINUM FROM THE EU AND EU RETALIATORY TARIFFS TO BE LIFTED
On October 31, 2021, the U.S. and the EU announced steps to, among other things, reestablish historical transatlantic trade flows in steel and aluminum and address shared challenges in the steel and aluminum sector. Among the concrete steps to be taken are the following: 1. Replacement of Section 232 tariffs with tariff-rate quotas (TRQ). Effective […]