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US Ministry Of Commerce Approves The First "232" Tariff Exemption For Iron And Steel Products

The US Department of Commerce announced on the 20 day that it has approved the first batch of applications for iron and steel products exempt from the US "232" tariff.

The US Department of Commerce issued a statement on the same day that it approved 42 "232" tariff exemption applications from seven enterprises, covering steel products imported from Japan, Sweden, Belgium, Germany and China. At the same time, 56 applications from 11 enterprises were rejected.

The Commerce Department said the "232" tariff exemption would be granted if a specific product was not produced domestically and there were no significant national security concerns about the product.

U. S. Commerce Secretary Rose said at a hearing held by the Senate Finance Committee that day, as of June 20, the U. S. Department of Commerce has received about 20,000 steel products and about 2500 aluminum products submitted by enterprises of the "232" tariff exemption applications.

Senior Democratic lawmaker Ron Wyden accused the Commerce Department of being too slow to handle the "232" tariff exemption request and asked the Commerce Department to improve the procedures and provide a clearer timetable. Republican Senator Olin Hatch, chairman of the Senate Finance Committee, pointed out at the hearing that steel and aluminum tariffs do not safeguard U.S. national security, but will harm U.S. manufacturers, consumers and the economy as a whole.

U.S. President Trump announced on March 8 that the United States would impose tariffs of 25% and 10% on imported steel and aluminium products under Section 232 of the 1962 Trade Extension Act because imported steel and aluminium products endangered the "national security" of the United States. Take effect. American enterprises may apply for exemption from the US Department of Commerce since March 19th. Because of violation of WTO rules, the United States aluminum and steel tariffs have been widely opposed by many governments and enterprises.
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