U.S. Secretary of Commerce Gina M. Raimondo released the following statement after President Biden signed two Presidential Proclamations to extend the European Union’s access to U.S. tariff rate quotas (TRQs) for steel and aluminum for two additional years.
“President Biden’s economic agenda is rooted in standing up for American families, workers, and businesses. The actions he’s taking today to extend the European Union’s steel and aluminum TRQs underscore that guiding principle and his commitment to defending U.S. industry from uncertain or adverse economic conditions,” said Secretary Raimondo. “In doing this, the President is making sure we continue to have vibrant steel and aluminum industries in the United States, which are especially crucial for safeguarding our national security.”
The TRQ extension will take effect on January 1, 2024 and last until December 31, 2025. Last week, the European Union announced a continued suspension on tariffs on U.S. goods.