US and Japan set to announce steel trade deal
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. Japan is one of the top 10 sources of steel to the United States -- yet only accounts for about 4% of all steel imports, according to the Commerce Department.
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.
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