US and Japan reach deal to make most steel imports tax-free
Business Tools, Government Affairs
On: February 08, 2022 | By:
U.S. government officials said Monday that they reached an agreement to essentially lift the 25% tariff that former President Donald Trump imposed on imported Japanese steel.
The deal with Japan would exclude the first 1.25 million metric tons of imported steel from the tax. That amount of steel is equal to the average that Americans imported from Japan in 2018 and 2019, effectively nullifying the tariffs while also allowing for taxes to be charged on any imports in excess of that sum.
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