Industrial Metals News – Late March 2022


The US has agreed to ease Trump-era tariffs on UK steel and aluminium shipments, resolving an issue that had strained relations between the allies.

The move follows earlier deals with the European Union and Japan over the controversial taxes, which were imposed by former President Donald Trump in 2018 in the name of national security.

In exchange, the UK will suspend extra taxes it had put on US products such as bourbon and Levi’s jeans.

Business groups welcomed the decision.

Under the agreement, the US will replace the 25% tariffs on steel with a quota system.

The policy will let UK metal imports into the country duty-free up to a certain level – the quota – before taxes kick in again.

The deal will go into effect 1 June.

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