US and Japan reach deal to roll back Trump-era steel tariffs
The US has reached an agreement to ease Trump-era tariffs on Japanese steel as president Joe Biden presses to relax trade tensions with American allies.
The US will suspend its 25 per cent levy on steel imports of up to 1.25mn tonnes a year beginning April 1, according to its agreement with Japan announced on Monday. A 10 per cent tariff on aluminium will remain in place.
The administration of Donald Trump first imposed tariffs on a range of countries in 2018 on the grounds that cheap foreign metal imports posed a threat to national security.