2024 EU Steel, Aluminum TRQs on 'Hold' While CBP Prepares to Extend
CBP is still “preparing” its 2024 tariff-rate quotas for steel and aluminum from the EU, and the “trade should proceed following existing 2023 guidance until the 2024 program is finalized,” the agency said in a pair of quota bulletins.
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For now, the 2024 EU steel and aluminum quotas “will be put in a ‘Hold’ status, allowing entries for quota type merchandise to proceed in 2024,” CBP said in both quota bulletins. “When the quota ‘Hold’ is released quota will be accepted in first come, first served order based on the quota presentation dates of entries entered on hold. Quota limits will be filled chronologically until one or more entries with the same time stamp exceed programmed limits. These entries will be prorated. Entries with later presentation dates will be rejected to be refiled as over-quota entries,” the agency said.
The EU announced the deal Dec. 19 with the U.S. to extend the TRQs (see 2312190043), which had been put in place in 2021 as part of a deal to exempt EU steel and aluminum from Section 232 tariffs and had been set to expire at the end of 2023. The U.S. also agreed to grant new Section 232 exclusions for products from the EU.
Exclusions don’t count toward maximum quota amounts under the TRQ for steel, although they do for aluminum. Regardless, both steel and aluminum remain excluded from Section 232 tariffs even if the respective quotas are filled.