US Commerce Secretary Gina Raimondo announced late Tuesday that The United States has reached an agreement with the United Kingdom to end tariffs on British steel and aluminum.
“By allowing duty-free flow of steel and aluminum from the UK, we further reduce the gap between supply and demand for these products in the United StatesRaimondo said in a statement.
He added: “And by removing the UK’s retaliatory tariffs, we reopen the british market to beloved american products“.
In response to the American announcement, Anne-Marie TrevelyanBritish Minister for International Trade, tweeted:
“The United States and Britain had reached an agreement to remove high tariffs on British-made steel, aluminum and other products. At the same time, the British will simultaneously cancel retaliatory tariffs on some American products.”
Meanwhile, the British Prime Minister Boris Johnson he said via Twitter:
“This is fantastic news and a very welcome boost. to our steel and aluminum industries.
Source: Fx Street
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