The U.S. and Japan reached a truce that will allow most steel shipments from the Asian nation to enter tariff-free for the first time since 2018 and sees the countries working together to combat Chinese trade practices that harm the industry.Washington will suspend the 25% levy on incoming steel imports from Japan up to 1.25 million metric tons a year, officials from the Commerce Department and U.S. Trade Representative’s office told reporters on Monday. Anything beyond that will still be subject to additional charges. The agreement will take effect April 1, the officials said.The U.S. imported about 1.7 million metric tons of steel from Japan in 2017, the most recent year not affected by the tariffs. Imports fell to 1.1 million tons by 2019, according to Commerce Department data.
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