AISI Praised Steel Tariff-Rate Quota Deal Between the U.S. and Japan

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) released its comments on the recent deal reached by the Biden administration towards partial lifting of tariffs imposed on Japanese steel imports during the Trump era.

The deal transforms the current 25% tariff on Japanese steel to a tariff-rate quota (TRQ) arrangement. Accordingly, up to 1.25 million metric tons of Japanese steel will be permitted to enter the U.S. with zero duties. However, volumes above this level will be subject to 25% tariff.

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In a statement, Kevin Dempsey, President and CEO, AISI thanked Secretary Raimondo and Ambassador Tai for expanding the cooperation between both the countries in addressing global steel excess capacity and related trade and customs enforcement matters. The newly agrees TRQ on steel imports from Japan will help to prevent another steel import surge that would undermine the domestic steel industry and destroy good paying American jobs, he added.

AISI appreciated Biden administration’s continued recognition that the American steel industry is critical to its national and economic security. It called for proper implementation and enforcement of the TRQ.