Trump approves targeted relief from steel and aluminium quotas for South Korea, Brazil and Argentina

The U.S. Commerce Department said on Wednesday that U.S. President Donald Trump approved targeted relief from quotas on steel and aluminium from some countries.  The statement confirmed that Trump signed proclamations allowing relief for South Korea, Brazil and Argentina for steel and on aluminium from Argentina.

“Companies can apply for product exclusions based on insufficient quantity or quality available from U.S. steel or aluminium producers,” the statement said. “In such cases, an exclusion from the quota may be granted and no tariff would be owed.”

The tariffs on steel and aluminium imports, which were implemented in March for some countries, took effect for European Union, Canada and Mexico from June 1. On May 31, Commerce Secretary Wilbur Ross said that arrangements had been made with some countries to have non-tariff limits on their exports of steel and aluminium.

The arrangement with South Korea was for a quota of 70 per cent of average steel exports to the United States in the years 2015 to 2017. Brazil said that the U.S. quotas and tariffs on Brazil’s steel and aluminium exports were unjustified and requested for negotiation.

It is yet to be seen how the countries would react to the quota relief from Trump.