US imposes tariffs on derivative steel and aluminium goods, with few exemptions

Monday, 27 January 2020 17:25:13 (GMT+3)   |   Istanbul
       

The US has recently announced the imposition of additional import tariffs, this time on derivative products.

Effective from February 8 this year, the restriction will be 25 percent for derivative steel products and 10 percent for derivative aluminium products. The decision has been taken as a follow-up of the Section 232 safeguard tax imposed back in spring 2018 again steel and aluminium imports to the US. While long and flat steel imports to the US have already been limited significantly, now the US aims to restrict the imports of products such as nails, staples, electrical wires and some downstream parts for the automotive and tractor industries, SteelOrbis understands. The reason given for the trade measure is the same - the threat to the viability of the domestic industries and to national security.

In the meantime, some exemptions have been granted. Argentina, Australia, Canada and Mexico have been exempted from both steel and aluminium tariffs, while Brazil and South Korea have only been exempted from the steel tariffs, SteelOrbis has learned.


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