The United States reached an agreement with Japan on Monday to lift the 25 percent tariff imposed on Japanese steel products by Trump during his presidency, according to U.S. Trade Representative and Department of Commerce officials. The agreement will allow up to 1.25 million tons of Japanese steel imports per year into the U.S. market without being subject to Section 232 tariffs, starting April 1. It stated that Japan would begin implementing relevant domestic measures within six months, “such as antidumping, countervailing duty, and safeguard measures, or other measures of at least equivalent effect,” to create more market-oriented conditions for steel. Gina Raimondo, the U.S. commerce secretary, talked up the benefits of the agreement with Japan. It will “strengthen America’s steel industry and ensure its workforce stays competitive, while also providing more access to cheaper steel and addressing a major irritant between the United States and Japan, one of our …
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