Section 232: U.S. and Japan come to an Agreement over Steel Tariffs
Good news for U.S. importers of Japanese steel products subject to Section 232 additional duties.
A new agreement announced on February 7, 2022, between the U.S. and Japan will allow historically-based sustainable volumes of Japanese steel products to enter the U.S. without the application of Section 232 tariffs.
A tariff-rate quota (TRQ) will replace the existing 25 percent tariff. Products imported within quota will enter free of Section 232 duty, while products imported above quota will continue to be subject to Section 232 duty of 25 percent, provided that they are not subject to an exclusion.
The exclusion process will be maintained.
Eligible Products: Steel imports must be "melted and poured" in Japan. An importer shall provide relevant documentation substantiating compliance with U.S. requirements. A list of tariff classifications can be found here.
Effective Date: April 1, 2022
Please refer to the Announcement of Actions on Japanese Imports of Steels Under Section 232 for further details.