U.S. extension of EU access to tariff rate quotas for steel and aluminum through 2025
TRQ extension will take effect on January 1, 2024, and last until December 31, 2025
TRQ extension will take effect on January 1, 2024, and last until December 31, 2025
President Biden has signed two presidential proclamations to extend the European Union’s access to U.S. tariff rate quotas (TRQs) for steel and aluminum for two additional years.
According to an Office of the United States Trade Representative (USTR) release, the extension, combined with the EU’s continued suspension on tariffs on U.S. goods, will allow additional time to negotiate a global arrangement that addresses carbon intensity and non-market capacity in the steel and aluminum industries.
The TRQ extension will take effect on January 1, 2024, and last until December 31, 2025. Last week, the EU announced a continued suspension on tariffs on U.S. goods for a 15-month period. Read TradeNewsFlash
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