KYODO (THE JAPAN TIMES) – Washington and Tokyo are in the final stage of talks to exempt a portion of United States (US) imports of steel from Japan from extra tariffs imposed in 2018 by US President Donald Trump, sources close to the matter said on Saturday.
The two countries are discussing establishing a tariff-free import quota but its size and some other details have yet to be finalised, the sources said.
The US has levied additional duties of 25 per cent on steel and 10 per cent on aluminium imports since 2018, when the Trump administration cited potential national security risks under its ‘America First’ foreign and trade policy.
The two countries will continue discussions on the levies on aluminium imports, according to the sources.
The Trump administration also imposed additional tariffs on steel and aluminium from the European Union (EU), but the EU took retaliatory measures against US imports.
The two sides agreed last October to introduce a tariff-free import quota for a certain amount per year. US tariffs would apply to annual volumes above 3.3 million tonnes of steel from the EU, a news agency reported citing sources familiar with the deal.
Japan has been asking for exemptions from the Trump-era tariffs. Last November, Trade Minister Koichi Hagiuda and US Commerce Secretary Gina Raimondo agreed to launch negotiations.
The US is particularly concerned about the impact on its economy of what it said is excessive steel production by China.
