On February 7, 2022, the United States and Japan announced that both countries had agreed to a tariff-rate quote (TRQ) for steel imports from Japan. The agreement will eliminate the Section 232 25% tariff on imports of steel from Japan that fall within the quota, effective April 1, 2022. Commerce Secretary Gina M. Raimondo and United States Trade Representative, Katherine Tai issued a joint statement that the renegotiated steel measures will "strengthen America's steel industry and ensure its workforce stays competitive, while also providing more access to cheaper steel."
Secretary Raimondo praised the cooperation between the two countries as an effort to build alliances and collectively address unfair trade practices such as those practiced by China.
The Biden Administration has expressed its commitment to combatting unfair trade practices that undermine U.S. manufacturing and threaten global trade growth. This agreement is another display of how the Biden Administration plans to provide relief for American workers and the steel industry by cementing existing alliances.
Additional information regarding the administration and review of eligible products can be found in the Announcement of Actions.
Importers seeking more information about the TRQ process or how to comply with U.S. requirements for eligible products should contact the Husch Blackwell International Trade Team.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.