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U.S. Issues New Exemptions to Steel Tariffs
The U.S. has agreed to drop its 25% import tariff on certain steel products imported from five countries, The Japan Times says.
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The U.S. has agreed to drop its 25% import tariff on certain steel products imported from five countries, The Japan Times says.
The exemptions apply to 42 “exclusion requests” made by U.S. companies regarding unspecified steels they buy from Belgium, China, Germany, Japan and/or Sweden. JT says the companies include specialty steel supplier Hankev International, cutting tool maker Nachi America and razor manufacturer Schick Manufacturing.
The Trump administration imposed the steel tariffs, along with 10% duties on foreign aluminum, in March on national security grounds. But Secretary of Commerce Wilbur Ross says the White House also is taking a “balanced approach” that acknowledges the needs of downstream industries.
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