US and UK Reached an Agreement to Eliminate Tariffs on UK Steel and Aluminum

SHANGHAI, Mar 23 (SMM) - The British government said that the measures taken by the US to cancel import tariffs on British steel and aluminium will take effect on June 1. According to “Term 232”, the US can impose a tariff of 25% on steel imports and 10% on aluminium imports.

Anne-Marie Trevelyan, British Minister of International Trade, announced on social media on March 22 local time that the US and Britain had reached an agreement to eliminate high tariffs on British-made steel, aluminium and other products. At the same time, the British will simultaneously cancel retaliatory tariffs on some American goods.

It is reported that the US will allow 500,000 mt of British-made steel to enter the US market with zero tariffs every year.