Bell: Tariff Rate Quota on the Table in Trade Talks with EU

There’s a good chance the Section 232 tariffs on steel imports from the European Union could be replaced by a tariff rate quota (TRQ) as soon as November as a result of trade talks now under way between officials from the U.S. and EU. The EU is strongly opposed to the Trump-era “national security” tariffs on steel and aluminum and has threatened additional retaliatory tariffs of its own on various goods unless the U.S. offers an alternative.

“It appears the two sides are looking seriously at a tariff rate quota,” said Steel Manufacturers Association (SMA) President Phil Bell in comments to Steel Market Update today.