U.S., Japan Reach Deal to Remove Trump-Era Steel Tariffs

The video discusses the evolving relationship between the US and Japan, focusing on the removal of tariffs that labeled Japan as a national security threat. This change, initiated by the Biden administration, aims to strengthen ties with Japan while addressing trade threats from China. The new agreement allows Japan to export steel to the US duty-free up to a certain limit, benefiting both countries' producers and preventing transshipment issues.

What was the main reason for the tension between the US and Japan in 2018?

• Japan's economic policies

• US labeling Japan as a national security threat

• Trade imbalance between the two countries

• Japan's military expansion

How is the Biden administration trying to improve US-Japan relations?

• By offering financial aid to Japan

• By reducing military presence in Japan

• By focusing on trade threats from China

• By increasing tariffs on Japanese goods

What is the maximum amount of Japanese steel that can be exported to the US duty-free under the new agreement?

• 1.5 million metric tons

• 1.0 million metric tons

• 1.25 million metric tons

• 1.7 million metric tons

What condition must be met for Japanese steel to be exported duty-free to the US?

• It must be shipped through China

• It must be produced by US companies

• It must be melted and poured in Japan

• It must be used for military purposes

How does the tariff rate quota protect US producers?

• By banning all steel imports

• By imposing tariffs on all Japanese goods

• By activating tariffs if imports surge

• By subsidizing US steel production