The United States and Japan announced on 7 February 2022 a deal to replace the 25 percent Section 232 tariffs on Japanese steel with a tariff-rate quota, effective 1 April. Under the arrangement, Japan may ship up to 1.25 million metric tonnes a year across 54 product categories duty-free, with volumes above the quota still subject to the tariff. Steel must be melted and poured in Japan to qualify. Japan in return agreed to drop its World Trade Organization dispute against the tariffs. The agreement followed a similar deal with the European Union in late 2021 and was part of Washington's effort to rebuild trade ties with allies while keeping import controls in place. For Japanese mills, the quota restored predictable access to the US market after nearly four years of tariffs. For US buyers, it eased supply at a time when domestic prices were still high, though the quota was small beside total US steel imports.
Source: DLA Piper — https://www.dlapiper.com/en-jp/insights/publications/2022/02/us-lifts-section-232-tariffs-on-steel-from-japan-effective-april-1-2022
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