Foreign media: US waives Trump-era steel tariffs on Japan

2022-06-29 0 By

The United States said On Monday that it has agreed to lift import tariffs on Japanese steel imposed during the Trump administration.That would remove a longstanding irritant between the two Allies.The move, which follows a similar agreement between the United States and the European Union in October, shows the Biden administration is stepping up efforts to strengthen economic ties with Asia-Pacific countries to counter China’s growing influence, the report said.Biden administration officials told reporters that the deal would allow Japan to export up to 1.25 million tons of steel a year to the United States duty-free.This is similar to the level of exports in 2018 and 2019.Such an arrangement would help lower the cost of steel imports for U.S. users, while maintaining tariffs on steel above agreed import levels to prevent an increase in steel imports, the officials said.The American Iron and Steel Institute welcomed Monday’s announcement.Kevin Dempsey, president and CEO of the trade group, said that by keeping tariffs on excess imports in place, the deal would “prevent another surge in steel imports that would devastate our industry and destroy good-paying American jobs.”Washington, Feb. 7 (AFP) — US officials announced Monday that the United States would ease tariffs on steel imports from Japan.It is the latest move by the Biden administration to resolve trade disputes launched by his predecessor, Donald Trump.Disclaimer: This article is reproduced for the purpose of conveying more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: