The Biden administration is juggling a number of steel and aluminum import issues, and the ultimate outcomes will greatly affect the prices U.S fabricators pay for raw material.
The 2021 U.S.-European Union tariff rate quota agreement was supposed to be renewed at the end of October, but a meeting in Washington last month between President Joe Biden and European Commission President Ursula von der Leyen failed to reach an extension, much less a broader agreement.
Meanwhile, this occurred against the backdrop of head butting between steel and aluminum importers and U.S. producers who have been vocal about their delineated differences on proposed U.S. Department of Commerce (DOC) changes to the steel and aluminum tariff exclusion process. Additionally, domestic aluminum extrusion manufacturers filed a huge trade case on Oct. 4 asking for import penalties on a variety of imports, such as auto roof parts and solar panel framing. The countries being targeted for antidumping duties include Colombia, the Dominican Republic, Ecuador, India, Indonesia, Italy, Malaysia, Mexico, China, South Korea, Taiwan, Thailand, Turkey, the United Arab Emirates, and Vietnam. Estimates on the monetary value of aluminum extrusions imported from these countries is said to be around $3.19 billion in 2022.
The failure of the U.S. and the EU to reach a new steel and aluminum tariff agreement—which poses potential problems for importers—elevates the DOC’s most recent effort to adjust the tariffs the Trump administration imposed in 2018. The agency’s Bureau of Industry and Security (BIS) was looking to make it more difficult for steel and aluminum importers to avoid paying tariffs with a series of proposed changes to the tariff relief process. Both steel-importing manufacturers and the domestic steel producers are arguing in opposite directions against the BIS proposed changes.
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