US-EU Tariff Deal Begets Tricky New Landscape For Importers

By Alex Lawson (November 3, 2021, 7:51 PM EDT) -- The U.S.-European Union agreement to soften the brunt of steel and aluminum tariffs should provide a lift to trans-Atlantic trade relations, but will also require companies to navigate a new compliance environment in critical industrial sectors.

On its face, the deal is straightforward. The U.S. will replace its 25% tariff on steel and 10% tariff on aluminum with a tariff-rate quota, or TRQ, that allows a certain amount of imports into the U.S. free of those levies. Once that threshold is reached, the tariffs will be imposed on subsequent imports.

The deal resolves a yearslong feud dating to the Trump administration,...

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