The US Department of Commerce released two reports last week in which it recommended the imposition of “safeguard duties” on certain imports of steel and aluminum. The report mentions concerns over national security and job loss and cited three methods by which the concern may be addressed including:
- a universal tariff which would be applicable to all importers of the specified products,
- targeted tariff which would apply to exporters from certain countries, and
- a worldwide quota restricting exports of specified products.
The White House recently acted upon Commerce Department recommendations imposing “safeguard duties” upon imports of large domestic clothes washers and solar cells.
Additional information on “safeguard duties” is available on the US International Trade Commission website. If you have specific questions regarding your shipments, please contact Deringer’s Compliance Department.