Trump targets 10 percent cut in EU’s steel and aluminum exports to US

Thursday, 24 May 2018 17:24:05 (GMT+3)   |   Istanbul
       

US President Trump is seeking a 10 percent cut in EU’s steel and aluminum exports to the US, implying that the US has not been satisfied with the EU’s concessions to secure exemptions from Section 232, according to media reports.

The Wall Street Journal quoted Poland's entrepreneurship and technology minister Jadwiga Emilewicz as saying that the Trump administration proposed two options for the EU, a quota fixed at 90 percent of the imports from the EU in 2017 and a tariff-rate quota that would target the same 10 percent cut through tariffs.

A tariff-rate quota means import of a produce is subject to both duties and a quota. When quantities inside a quota are charged with lower import duty rates, while those outside are subject to higher rates.


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