The EU extends the suspension of its rebalancing tariffs on US products in the context of the steel and aluminium dispute until 31 March 2025 .
This extension is the result of an agreement reached with the US. The EU prolongs the suspension in return for the US extending the suspension of its tariffs for trade volumes that are reflected in the Tariff-Rate Quota (TRQ) system established in January 2022. In addition, the US agreed to provide for further exclusions from the tariffs for EU exporters.
The extension, published in the Official Journal of the EU, will result in EU steel and aluminium exporters saving approximately €1.5 billion in tariffs annually. The US must complete its own procedures to extend its TRQ system for EU exports of steel and aluminium as of 1 January 2024. This prolonged suspension of tariffs gives businesses on both sides of the Atlantic certainty, facilitating the smooth flow of trade.
Source : EU prolongs tariff suspension for US products (europa.eu)
Implementation Regulation: EUR-Lex – 32023R2882 – NL – EUR-Lex (europa.eu)
