ANNOUNCEMENT 30 Apr 2018

In April 2018, the United States issued a Proclamation impositing of import tariffs on certain steel goods from the Republic of Korea. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Office of the United States Trade Representative, New U.S. Trade Policy and National Security Outcomes with the Republic of Korea, factsheet of March 2018: https://ustr.gov/about-us/policy-offices/press-office/fact-sheets/2018/march/new-us-trade-policy-and-national
The White House, President Donald J. Trump is Fulfilling His Promise on the United States–Korea Free Trade Agreement and on National Security, issued on 28 September 2018: https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-fulfilling-promise-united-states-korea-free-trade-agreement-national-security/
U.S. Custom and Border Protection, QB 18-126 Absolute Quota for Steel Mill Articles: Argentina, Brazil and South Korea: https://www.cbp.gov/trade/quota/bulletins/qb-18-126-absolute-quota-aluminum-products-argentina-brazil-south-korea
U.S. Custom and Border Protection, QB 18-123 Announcement for Steel Mill Articles: South Korea: https://www.cbp.gov/trade/quota/bulletins/qb-18-123-announcement-steel-mill-articles-south-korea

Inception date: 01 Jun 2018 | Removal date: open ended
Still in force

Import quota

On 30 April 2018, the United States issued a Proclamation introducing an import quota on certain steel goods from the Republic of Korea. The import quota level is limited to 70% of the United States' "average annual import volume from 2015 through 2017". The import quota entered into force on 1 June 2018.

According to the United States: "This will result in a significant reduction in Korean steel shipments to the United States."

Additionally, the United States imposed an import quota on certain steel goods from Argentina and Brazil, see related state act. Quarterly and annual quota levels are issued by the U.S. Customs and Border Protection. The quota for all three countries varies depending on the subject good. 

Notably, the United States imposed import tariffs on the subject goods on 23 March 2018 with the exception of imports from a number countries including Argentina and Brazil, see related state act. Whilst the import tariff on the subject goods are exempt for these countries, the United States has: "agreed in principle with Argentina, Australia, and Brazil on satisfactory alternative means to address the threatened impairment to our national security posed by steel articles imports from these countries and extended the temporary exemption of these countries from the tariff proclaimed in Proclamation 9705, as amended, in order to finalize the details." No import restriction has to date been imposed on Australia.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A