New TRQs for EU Steel and Aluminum to Take Effect January 1
The U.S. will administer tariff rate quotas starting Jan. 1 on European steel across 54 product categories, with an annual 3.3 metric ton limit, but the products that are currently covered by Section 232 exclusions won't count against the quotas. Those exclusions will automatically renew through the end of 2023, the Commerce Department announced. For both steel and aluminum, derivative products will no longer be subject to tariffs or quotas.
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All products entered under the quota will have to be certified as being melted and poured in the EU. As with South Korea's quota, the TRQ will be administered quarterly. Up to 4% of unused quota from the first quarter can roll over to the third quarter and up to 4% of unused quota from the second quarter can roll over to the fourth quarter. Unused quota from the third quarter, up to 4%, again, can roll over to the first quarter of the following year.
For aluminum, the U.S. will administer TRQs twice a year, and up to 60% of the annual volume can be imported in the first half of the year. The tariff-free quota is 18,000 metric tons for unwrought aluminum, under two product categories, and 366,000 metric tons for semi-finished aluminum under 14 product categories.