One Week Left To Get Exemptions from the Steel/Aluminum Tariffs

With all the media coverage of President Trump ’s steel/aluminum tariffs, it would be easy to assume they are in effect already, but they don’t actually start until next Friday, March 23. This is from thePresidential proclamation relating to steel:Except as otherwise provided in this proclamation, or in notices published pursuant to clause 3 of this proclamation, all steel articles imports specified in the Annex shall be subject to an additional 25 percent ad valorem rate of duty with respect to goods entered, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on March 23, 2018.The “except as otherwise provided” qualifier is important here. There is still time to narrow the scope of the tariffs significantly, both through specific product exclusions and broader country exemptions. Canadian and Mexican steel has already been exempted. And President Trump had atweet suggesting Australia would be exempt: “Working very quickly on a security agreement so we don’t have to impose steel or aluminum tariffs on our ally, the great nation of Australia!” But what about other U.S. trading partners? The EU, Brazil, South Korea, and Japan, among others, are all going to be making their case to the U.S. Tr ade Representative,who is running these negotiations.The criteria for exemptions for these countries is  as follows: “Any country with which we have a security relationship is welcome to discuss with the United States alternative ways...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs