May 17, 2022

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Agreement to abolish customs duties on British steel and aluminum

Agreement to abolish customs duties on British steel and aluminum

Washington announced, on Tuesday, that it had reached an agreement with the United Kingdom to end punitive tariffs on British steel and aluminum, which were imposed in 2018 by former President Donald Trump and British retaliation on American products.

“This important agreement will not only help ensure the long-term viability of the steel and aluminum industries, and protect American jobs, but it will also lift retaliatory tariffs on more than 500 million US exports to the UK, including spirits,” the US Trade Secretary said. Gina Raimondo and Trade Ambassador Catherine Tay in a joint statement.

In January, the two countries announced the start of negotiations to end the Trump-era rift. The UK was among several countries to impose additional tariffs of 25% on steel and 10% on aluminum in June 2018, in the midst of a trade war.

I already found the Biden administration Agreements with the European Union in October 2021, but these did not apply to the UK due to Brexit.

Concretely, this new agreement will allow import Historic and sustainable volumes of British steel and aluminum products without the Section 232 tariff.Details of US officials.

What is more, This agreement requires any British steel company owned by a Chinese entity to conduct an audit (…) To assess the impact of the Government of the People’s Republic of China”. “The results of these audits should also be shared with the United States.”also select Mr.me Tae andme Raimondo. (with Le Monde.Fr)