Thursday, May 31, 2018
STEEL AND ALUMINUM SECTION 232 TARIFF EXEMPTIONS ENDING FOR CANADA, MEXICO AND EUROPEAN UNION
June 1 marks the end of the exemptions on steel and aluminum from Canada, Mexico and the EU as announced in two presidential proclamations dated May 31. The decision was made to not extend their temporary exemptions and no permanent agreement was reached for these countries.
Steel from all countries, except Australia, Argentina, and Brazil will be subject to a 25 percent tariff beginning June 1. Aluminum from all countries except Australia and Argentina will be subject to a 10 percent duty. An agreement had been reached with Brazil on an exemption on steel, but not for aluminum.
The proclamation on iron and steel products announced that imports from Argentina and Brazil will be subject to quota, as South Korea currently is. The second proclamation for aluminum says quotas will apply to imports from Argentina.
Neither proclamation mentioned Australia as being subject to quota.