US, Japan set to announce steel import quota deal, sources say

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WASHINGTON/TOKYO - The United States and Japan on Monday are set to announce a deal to grant Japanese steelmakers relief from Trump-era US tariffs for a limited amount of steel imports, people famil

iar with the plans said.

The sources said the agreement differs significantly from a deal announced last year by the United States and the European Union that removes tariffs from more than 4 million tonnes of steel annually and leaves Japanese aluminum subject to 10 per cent US tariffs. Japan's steel industry is highly dependent on coal-fired blast furnace production, while more than 70 per cent of US steel is made with electric-arc furnaces that emit less carbon.

Spokespeople for the Commerce Department and the US Trade Representative's office declined to comment on the US-Japan steel talks.

 

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