Stock Groups

Japan, U.S. to announce deal to restrict Trump-era steel tariffs

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: An employee stands in front of steel coils, and steel rods, at the Tokyo Steel Collection Facility, Tokyo, Japan. October 30, 2015. Japanese steelmakers have a glut in supply, weaker orders for drilling pipe because of slumping oil prices and softer than expected do

(Reuters) – Monday will see the United States and Japan announce a partnership to reduce tariffs imposed by President Donald Trump on Japanese steel, Bloomberg reported, citing anonymous sources.

Washington will lift the 25% tariff on imports of steel from Japan, subject to certain limits. Any higher amounts are still subject to additional fees, according to the report.

Aluminum imports will not be covered under the deal, as they are still subject to a 10% tariff according to the report.

Japan’s Ambassador in Washington, last month stated that the negotiations with America regarding U.S. aluminum and steel tariffs had been “robust”.

Ambassador Koji Tomita indicated that the U.S. and European Union quota agreements, which allows certain steel and aluminum to enter the United States without duty, was an example of the U.S. – Japan talks.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]