US and Japan set to announce steel trade deal
By Kevin Liptak, CNN
The US and Japan are set to announce a deal that would cut Trump-era tariffs on steel, a person familiar with the matter said.
Under the agreement, a limited amount of Japanese steel will be allowed for import without the 25% levy imposed by President Donald Trump in 2018. If Japan goes over that amount, the tariff would return.
The deal doesn’t apply to aluminum, on which Trump also imposed tariffs. It follows an agreement last year between the US and the European Union to ease Trump-era metal tariffs.
Trump imposed the steel and aluminum tariffs citing national security, and it caused some nations to impose retaliatory duties on their own products.
This is a breaking story and will be updated.
The-CNN-Wire
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