On April 30, 2018, U.S. President Donald Trump issued two proclamations, modifying the previous proclamations on the Section 232 tariffs on steel and aluminum.
Following the conclusion of discussions with South Korea, the U.S. will exempt steel imports from South Korea from the Section 232 tariffs and instead, impose absolute quota restrictions on steel goods. Additionally, South Korean imports of aluminum will be subject to the Section 232 tariff of 10% as of May 1, 2018.
The U.S. has agreed in principle with Argentina, Australia, and Brazil on alternative means to address steel and aluminum concerns, and has therefore extended the exemptions, with no expiration date, in order to finalize the details. The exemptions for Canada, Mexico, and the European Union (EU) are extended until June 1, 2018 while negotiations continue.
The Presidential Proclamation on Steel may be found here:
The Presidential Proclamation on Aluminum may be found here:
