US President Donald Trump has signed proclamations permitting targeted relief from steel and aluminum quotas from some countries, the US Commerce Department said on Wednesday.
Trump, who put in place tariffs on steel and aluminum imports in March, signed proclamations allowing relief from the quotas on steel from South Korea, Brazil and Argentina and on aluminum from Argentina, the department said in a statement.
“Companies can apply for product exclusions based on insufficient quantity or quality available from US steel or aluminum producers,” the statement said. “In such cases, an exclusion from the quota may be granted and no tariff would be owed.”
Trump, citing national security concerns, placed tariffs of 25 per cent on steel imports and 10 per cent on aluminum imports. The tariffs on steel and aluminum imports from the European Union, Canada and Mexico took effect on June 1, and Commerce Secretary Wilbur Ross said on May 31 that arrangements had been made with some countries to have non-tariff limits on their exports of the two metals to the United States.
Ross said the arrangement with South Korea was for a quota of 70 per cent of average steel exports to the United States in the years 2015 to 2017.
The Brazilian government said at the time the US quotas and tariffs on Brazil's steel and aluminum exports were unjustified but that it remained open to negotiate a solution. Brazilian semi-finished steel exports to the United States are subject to quotas based on the average for the three years from 2015-2017, while finished steel products will be limited to a quota of 70 per cent of the average for those years.