- The US and UK reach an agreement over US steel and aluminium tariffs, ending a four-year dispute, and the two parties pledge to work together to counter China
- In a joint statement, they say the deal would protect steel and aluminium companies and their workers in both countries, allowing the allies to focus on what the parties say are “China’s unfair trade practices”
- The pact, which comes after US Commerce Secretary Gina Raimondo met with the UK’s trade minister, Anne-Marie Trevelyan, also will end Britain’s retaliatory tariffs on iconic American goods
- Ms Trevelyan also said the deal would help support about 80,000 jobs across the UK
The US and the UK ended a four-year dispute over US steel and aluminium tariffs yesterday, pledging to work together to counter China in a deal that also removes retaliatory tariffs from American motorcycles, whiskey and other products.
US Commerce Secretary Gina Raimondo and US Trade Representative Katherine Tai said in a joint statement that the deal would protect steel and aluminum companies and their workers in both countries, allowing the allies to focus on what they say are “China’s unfair trade practices”.
Under the deal, the UK will receive a duty-free import quota of over 500,000 tonnes of steel “melted and poured” in the country annually, with higher volumes subject to the 25 per cent tariff.
It also sets smelt and cast requirements on aluminium, requiring importers to certify the origin of raw aluminium used, a move to combat subsidised metal from China and other countries.
The pact, which comes after Ms Raimondo met with the UK’s trade minister, Anne-Marie Trevelyan, also will end Britain’s retaliatory tariffs on iconic American goods, including Harley-Davidson motorcycles, bourbon whiskey and cigarettes.
Ms Trevelyan said the deal would help support some 80,000 jobs across the UK.
British Prime Minister Boris Johnson hailed the deal in a tweet as “fantastic news and a very welcome boost to our steel and aluminium industries.”
Ms Trevelyan met with Raimondo in Washington after two days of meetings with Ms Tai and other US trade officials about expanding US-UK trade ties and ensuring that both countries address a changing digital economy and protect labour rights and the environment.
However, the UK will not join US-European Union talks aimed at reducing the steel industry’s carbon footprint, choosing instead to consult with Washington on methodologies for measuring emissions despite British steelmakers use of coal-fired blast furnaces.