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US, UK reach agreement to end retaliatory tariffs on steel and aluminum

US, UK reach agreement to end retaliatory tariffs on steel and aluminum
Illustration: AFP/VNA

In a statement, US Commerce Secretary Gina Raimondo said that by allowing the duty-free flow of steel and aluminum from the UK, the US will continue to close the gap between supply and demand for these products in the US, and through By lifting the UK’s retaliatory tariffs, the US also re-enters the UK market for American products.

The agreement is the latest in a series of efforts by US President Joe Biden to resolve trade conflicts with US allies, some of which are longstanding and others that began under the US administration. predecessor rights. In January, the US and UK announced the start of negotiations to end the dispute, which arose when President Trump imposed 25% tariffs on steel and 10% on aluminum imports from the UK and other countries to protect the industry. of America.

Under the deal announced on March 22, Britain will also lift retaliatory tariffs imposed on $500 million of US imports, including alcohol and consumer goods. The two countries reached the agreement after two days of talks between US Trade Representative Katherine Tai and British International Trade Secretary Anne-Marie Trevelyan in the port city of Baltimore (USA) on broader trade relations. Ms. Trevelyan also met with Minister Raimondo to finalize the metals deal.

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