U.S. Nixes British Steel and Aluminum Tariffs

Supply problems and inflation still push up the cost of raw materials, but an end to steel and aluminum tariffs should help offset construction price increases.

WASHINGTON – The United States and Britain have settled their dispute over special tariffs on steel and aluminum imports introduced under then-president Donald Trump, the two sides announced on Tuesday.

Britain will be allowed to export “historically-based sustainable volumes” of steel and aluminum duty-free into the United States again from June 1, according to a statement on the agreement distributed in Washington on Tuesday.

The duty-free trade volume should roughly correspond to that of 2018-2019, when there were no punitive tariffs.

“In response the UK will suspend rebalancing measures on U.S. products including whiskey, blue jeans and motorcycles,” the British government said in a statement. The U.S. said those exports are worth some 500 million dollars.

The agreement follows the model of a deal between the government of U.S. President Joe Biden and the European Union at the end of last year. A similar deal with Japan was announced in February.

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