The US has extended the suspension of import tariffs on European steel and aluminium with a decree signed by President Joe Biden and set to take effect from 1 January.
The suspension of the tariffs was scheduled to last until 31 December 2023. It has now been extended to 31 December 2025, longer than the period announced by the European Union (EU), which had similarly paused taxes on US goods until 31 March 2025.
US Commerce Secretary Gina Raimondo said the extension ensures “continued dynamic steel and aluminium industries in the US, necessary for safeguarding national security.”
White House Trade Representative Katherine Tai said the move, coupled with the EU’s suspension, allows additional time to find a global agreement addressing carbon emissions and overproduction in the steel and aluminium industries.
Efforts have been ongoing for months to find an agreement eliminating the tariffs implemented in 2018 under the Trump administration, and suspended in 2021.
An EU-US summit in October failed to reach an agreement, but, according to the European Commission, enough time has now been carved out to successfully negotiate.
