Alerts11.23.21
U.S. and EU Reach Section 232 Agreement for Steel and Aluminum Tariff-Rate Quota
Effective Jan. 1, 2022, imports of EU steel and aluminum products will be subject to a tariff-rate quota, allowing a certain amount of imports to enter the U.S. free of any Section 232 tariffs
Recently, the United States and the European Union announced an agreement to replace the existing 25 percent tariff on EU steel products and 10 percent tariff on EU aluminum products with a tariff-rate quota (TRQ), which will go into effect on Jan. 1, 2022. In return, the EU will suspend retaliatory tariffs on U.S. goods such as agricultural and food products, consumer goods, and steel and aluminum products, also effective Jan. 1, 2022.
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