Thursday, September 17, 2020
USTR REVERSES REINSTATEMENT OF SECTION 232 TARIFFS ON CERTAIN ALUMINUM FROM CANADA
On Monday, August 10, 2020 President Trump had resinstated a 10% tariff to be re-applied on imports of non-alloyed unwrought aluminum goods from Canada, effective August 16, 2020 and provided for in subheading 7601.10. Click here to read the FHK alert.
On September 15, 2020, the Office of the US Trade Representative (USTR) announced it will revoke the recently reinstated 10% tariff on imports of non-alloyed, unwrought aluminum products from Canada retroactively as of September 1, 2020. If the actual shipments exceed 105% of the expected volume in any month, the USTR will:
US and Canadian officials will review the aluminum trade issue at the end of 2020 to review the state of the aluminum trade in light of trade patterns during the four-month period and expected market conditions in 2021.
Click here to read the USTR Statement on Canadian Aluminum.
On September 15, 2020, the Office of the US Trade Representative (USTR) announced it will revoke the recently reinstated 10% tariff on imports of non-alloyed, unwrought aluminum products from Canada retroactively as of September 1, 2020. If the actual shipments exceed 105% of the expected volume in any month, the USTR will:
- Impose the 1% tariff retroactively on all shipments made in that month;
- Expect that shipments made in the next month will decline by a corresponding amount; and
- May consider reinstating the 10% tariff going forward.
US and Canadian officials will review the aluminum trade issue at the end of 2020 to review the state of the aluminum trade in light of trade patterns during the four-month period and expected market conditions in 2021.
Click here to read the USTR Statement on Canadian Aluminum.
