Regarding the result of negotiations between the U.S. and EU on the Section 232 of the U.S. Trade Expansion Act.

November 2, 2021
Eiji Hashimoto
Chairman
    The Japan Iron and Steel Federation

 

On October 31, the U.S. government announced that it has reached an agreement with the European Union to introduce tariff-rate quota on steel products imported from EU member countries in connection with the additional tariffs imposed on steel imports under Section 232 of the U.S. Trade Expansion Act.

For the sustainable development of global economy, it is extremely important to maintain the principle of free trade which contributes economic growth and prosperity.
From this point of view, we are concerned that the agreement will result in a comprehensive relaxation of measures in the form of tariff-rate quota only for certain countries and regions, and that the Japanese steel industry, which is an ally of the U.S., will be put behind the EU in terms of export competitiveness to the U.S..

The Japanese steel industry respects the Japanese government's efforts to negotiate with the U.S. and strongly hopes that the Japanese government will continue to negotiate with the U.S. to ensure the level playing field of the Japanese steel industry.

 

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