Daily Management Review

U.S., Japan reach agreement to lift duties on Japanese steel imports


The U.S. and Japanese governments reached an agreement to reduce tariffs on imports of a limited amount of Japanese steel in order to expand trade between the countries and counter "unfair trade practices" by the PRC, said U.S. Trade Representative Katherine Tai.

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NARA & DVIDS Public Domain Archive
"This agreement, combined with last year's resolution with the EU, will help us work with Japan to counter China's anti-competitive, non-market trade practices in the steel sector and help us achieve President (Joe) Biden's ambitious climate agenda," Tai said.

She, along with U.S. Commerce Secretary Gina Raimondo, announced a new tariff agreement that allows "historically reasonable" volumes of Japanese steel products to enter U.S. markets duty-free. If imports exceed the limit, they will be subject to an additional fee.

In 2018, former U.S. President Donald Trump imposed customs duties on steel and aluminum imports of 25 percent and 10 percent, respectively. Since then, Tokyo has been urging Washington to exempt the country from these duties.

source: cnn.com