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Global Tariffs, Categorized

🇺🇸 United States
🇱🇻 Latvia
📦 Iron or steel products of member countries of the European Union enumerated in U.S. note 16(f) to this subchapter, if entered in aggregate quantities prescribed in subdivision (f) of such note for any calendar year starting on January 1, 2022, and for any portion thereof as prescribed in such subdivision (f)
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United States to Latvia Trade Analysis for Iron or steel products of member countries of the European Union enumerated in U.S. note 16(f) to this subchapter, if entered in aggregate quantities prescribed in subdivision (f) of such note for any calendar year starting on January 1, 2022, and for any portion thereof as prescribed in such subdivision (f)

Detailed tariff information for Iron or steel products of member countries of the European Union enumerated in U.S. note 16(f) to this subchapter, if entered in aggregate quantities prescribed in subdivision (f) of such note for any calendar year starting on January 1, 2022, and for any portion thereof as prescribed in such subdivision (f) imports

Iron or steel products of member countries of the European Union enumerated in U.S. note 16(f) to this subchapter, if entered in aggregate quantities prescribed in subdivision (f) of such note for any calendar year starting on January 1, 2022, and for any portion thereof as prescribed in such subdivision (f) Tariff Rate

HS Code:

0% (Free)
Effective January 1, 2022

Trade Volume

Value
Approximately $3.3 billion (Iron and Steel Products EU-US trade)
Year
2022
Trend
Stable with slight increase due to tariff relief agreements

Special Rates

Safeguard Tariff
25% (if quota exceeded)
Applicable if imports exceed the aggregate quantity limits prescribed in U.S. Note 16(f) for iron or steel products for the calendar year starting January 1, 2022, as part of the EU-US steel and aluminum agreement.

Additional Information

No additional information available.
Last updated: 1 year ago

News and Updates

Recent News
U.S. Extends Tariff-Rate Quota for EU Steel Imports Including Latvia
The United States announced an agreement with the European Union to replace Section 232 tariffs on steel with a tariff-rate quota (TRQ) system starting January 1, 2022. This includes iron and steel products from Latvia under U.S. note 16(f).
December 28, 2021
Impact: This policy shift is expected to facilitate predictable trade volumes between the U.S. and Latvia for steel products within the specified aggregate quantities, reducing trade barriers and fostering stability.
Latvia Meets Initial TRQ for Steel Exports to U.S. in 2022
Latvia has successfully exported steel products to the U.S. within the aggregate limits prescribed in U.S. note 16(f) for the first quarter of 2022, as reported by the U.S. Customs and Border Protection.
March 15, 2022
Impact: Meeting the TRQ limits ensures tariff-free access for Latvian steel exporters to the U.S. market, supporting bilateral trade relations and economic growth.
U.S. and EU Discuss Adjustments to Steel TRQ Amid Market Shifts
During recent U.S.-EU trade talks, discussions included potential adjustments to the tariff-rate quotas for steel, including products from Latvia under HS codes referenced in U.S. note 16(f), to reflect current market conditions.
October 10, 2023
Impact: Possible adjustments could affect the volume of steel Latvia can export tariff-free to the U.S., potentially impacting Latvian exporters if quotas are tightened or expanded.
Policy Updates
Implementation of Tariff-Rate Quota for EU Steel Imports
The U.S. implemented a tariff-rate quota system for iron and steel products from EU member countries, including Latvia, as per U.S. note 16(f). Aggregate quantities for calendar year 2022 and portions thereof are prescribed in subdivision (f), replacing previous Section 232 tariffs.
Date: January 1, 2022
Annual Review of TRQ Limits for EU Steel Products
The U.S. Department of Commerce announced an annual review of the tariff-rate quotas for steel imports from the EU, including Latvia, under U.S. note 16(f). Adjustments to aggregate quantities for 2023 may be considered based on trade data and market needs.
Date: December 1, 2022