The United States will end the Section 232 tariffs on steel and aluminum from products manufactured in the European Union on January 1st, 2022. The 25 percent steel and 10 percent aluminum tariffs will be replaced by tariff rate quota.
A tariff rate quota system will allow entry of those steel and aluminum products without the application of 232 duties up to a certain amount. In this case the aggregate annual import volume under the TRQ is set at 3.3 MMT under the 54 product categories.
The Commerce Department issued a statement outlining the agreement.
Willson International is monitoring the development and pending instructions from U.S. Customs and Border Protection regarding the mechanism for administration on the entry level.