U.S. nears tariff exemption for Japan steel imports: Kyodo

The U.S. and Japan are close to an agreement that would partially remove tariffs imposed on Japanese steel imports in 2018, Kyodo reported without saying where it got the information.

The two countries haven’t finalized the size of a tariff-free import quota and some other details, Kyodo reported, citing anonymous sources. Japan has been calling for the complete abolition of the tariffs imposed by former President Donald Trump, which add 25% to steel imports and 10% to aluminum imports.

Separately, local media including Nikkei reported that most of the exemptions are slated to start this spring. Extra tariffs on aluminum won’t be exempted, according to Nikkei.

Trump imposed duties on steel and aluminum from the European Union, Asia and elsewhere in 2018, citing national security risks. The EU retaliated, targeting products including motorcycles, jeans and bourbon whiskey.