Biden Extends EU Steel and Aluminum Tariff Suspension

The extension allows for continued negotiations on overcapacity and low-carbon production, with the tariff rate quota system in place until the end of 2025.

• President Biden has extended the suspension of tariffs on European Union steel and aluminum for two additional years, allowing negotiations to continue on measures to address overcapacity and low-carbon production.
• The tariff rate quota (TRQ) system allows up to 3.3 million metric tons of EU steel and 384,000 tons of aluminum into the United States tariff-free, with tariffs applying for any further amounts.
• EU tariffs, imposed in retaliation and covering a range of U.S. goods, have also been shelved until 2025.
• The United States and the European Union have been seeking agreement measures to address excess metal production capacity in non-market economies, such as China, and to promote greener steel.
• The TRQ extension will take effect on January 1, 2024 and last until December 31, 2025.

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