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Steel and Aluminum Tariffs Begin for European Union, Canada, and Mexico

Starting Friday June 1, 2018, the 25% tariff on steel and 10% tariff on aluminum will go into effect for the European Union, Canada, and Mexico. The tariffs were originally announced in March (Steel and Aluminum Tariff List) but provided a temporary exemption to several U.S. allies while negotiations of export limits to the U.S. were discussed. According to U.S. Commerce Secretary Wilbur Ross, export limits were negotiated with South Korea, Argentina, Australia, and Brazil. However, Ross said negotiations didn’t go as far as he wanted them to with Canada, Mexico, and European diplomats and talks will continue.

In response to the U.S. actions:

  • Canada stated it will impose retaliatory duties effective July 1, 2018 against $16.6 billion of U.S. steel and aluminum, and a wide range of other U.S. goods, including some food and agricultural products.
  • The European Union will file a dispute with the WTO and impose its retaliatory measures effective June 20, 2018 against a $3.3 billion array of U.S. agricultural products, including tobacco and rice, as well as whiskey, paper products, shoes, blue jeans, automobiles, and motorcycles.
  • Mexico announced retaliatory taxes on U.S. exports of certain cheeses, grapes, apples, cranberries, and pork bellies.

For more information please contact your local MIQ Logistics representative.