UPDATE: Provisional Safeguard surtaxes on certain steel products

Further to our initial alert on this matter (Provisional Safeguard Measures), what are known as “tariff rate quota” (TRQ) permits will be required on those steel goods subject to the 25% safeguard measure. Once quotas or TRQ volumes have been met, the 25% safeguard surtax will be imposed. Importers will be well-advised to periodically monitor…