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04 September 2018

US issues new steel and aluminum proclamations outlining potential relief opportunities for US importers

US President Trump signed two Presidential proclamations on August 29, granting targeted relief to US importers of steel and aluminum products that are subject to country specific quotas covered by Section 232 of the Trade Expansion Act of 1962. For imports of steel and aluminum subject to country specific quotas, interested parties can apply for a product-specific exclusion from quantitative limitations on steel and aluminum under a process that will be similar to the existing product exclusion process established for the relief of punitive tariffs. Steel and aluminum products relieved from quantitative limitations under this process will not be subject to punitive tariffs.

An Indirect Tax Services group Alert, attached below, provides additional details.

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Document ID: 2018-1741

 

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