President Joe Biden announced the extension of the suspension of tariffs on European Union steel and aluminum for an additional two years. This move continues the agreement initially set in January 2022, aiming to foster ongoing negotiations focusing on global overcapacity and the promotion of low-carbon production in these industries.
The original suspension replaced the tariffs implemented by former President Donald Trump, which included a 25% tariff on EU steel and 10% on EU aluminum, with a tariff rate quota (TRQ) system. This extension, effective from January 1, 2024, to December 31, 2025, was confirmed through Presidential Proclamations signed by President Biden.
United States Trade Representative Katherine Tai emphasized the commitment of the U.S to domestic steelmaking:
"By extending the European Union’s steel and aluminum TRQs for an additional two years, we can continue negotiations on a forward-looking, high-standard arrangement, while providing predictability and stability to steel and aluminum workers and their families on both sides of the Atlantic.
“Maintaining viable steel and aluminum production at home is vital to U.S. national security, and our efforts with trading partners, including the EU, will continue to be guided by this tenet.”
Last week the European Union announced the continued suspension of tariffs on U.S. goods, extending it for a 15-month period.
A Proclamation on Adjusting Imports of Steel Into the United States
A Proclamation on Adjusting Imports of Aluminum Into the United States
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