SMU Community Chat
November 18, 2021
Leibowitz: EU TRQ is a Template for Future Trade Deals
Written by Tim Triplett
The Oct. 31 agreement between the U.S. and the EU to replace Section 232 with a tariff-rate quota (TRQ) will likely serve as a model for similar trade deals with other countries that are chafing under the Trump-era tariff, said veteran Washington trade attorney Lewis Leibowitz during Wednesday’s SMU Community Chat.
The Biden administration began trade talks this week with Japan on subjects ranging from supply chains to semiconductors, as well as the 25% tariff on steel and 10% tariff on aluminum exports from Japan to the United States. “I think the agreement with the EU will be the template the U.S. insists upon, and I have seen no evidence that Japan will quarrel with that approach. If Japan agrees to it, then that will be the template going forward,” Leibowitz predicted.
