Steel Products
Steel Tariff Country Exclusions Extended
Written by John Packard
May 1, 2018
Trade attorney Lewis Leibowitz provided Steel Market Update information regarding the White House decision made earlier this evening (Monday) regarding exclusions for various countries from the Section 232 steel and aluminum tariffs. Here is what Leibowitz had to say:
At about 10:00 PM on Monday evening (tonight), the White House announced that tariffs would not be imposed on those countries (Argentina, Australia, Brazil, Canada, the EU, Korea and Mexico) on May 1. I have not seen an amended proclamation, but I expect one will be issued soon.
For Canada, Mexico and the EU, the reprieve will last until June 1, giving time to reach agreement on quotas or other arrangements. For Argentina, Brazil and Australia, agreements in principle were announced, but details were not provided. Korea had previously announced a quota agreement for steel that will eliminate the possibility of tariffs.
No new exemptions were announced, so tariffs will remain in effect for all other countries.
Steel Market Update will have more about Section 232 and the exclusion process both by country as well as individual products being requested by U.S. steel consummers. Stay tuned to our website and newsletters.
John Packard
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The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.