UK and US agree duty-free access for steel and aluminum

0

The British government has secured a resolution that will end the current steel and aluminum tariff problem with the United States.

International Trade Secretary Anne-Marie Trevelyan has secured a resolution with the United States to end the current steel and aluminum tariff problem.

After two months of talks, International Trade Secretary Anne-Marie Trevelyan met Commerce Secretary Raimondo in Washington DC this week and the United States announced a sweeping removal of Section 232 tariffs – reopening the duty-free access for UK steel and aluminum exporters. in the USA.

The announcement is good news for the steel and aluminum sectors, which support the jobs of around 80,000 people across the UK. The changes will come into effect in June.

In response, the UK will suspend rebalancing measures on US products, including whiskey, jeans and motorcycles.

The two parties also agreed to work closely together to address the broader issue of global steel overcapacity and market-distorting practices.

The announcement will benefit businesses on both sides and allow the government to focus on the next steps in a UK-US trading relationship.

UK Steel Managing Director Gareth Stace commented on the announcement: “This agreement represents a hugely positive outcome and is warmly welcomed by the UK steel industry. We must congratulate Anne-Marie Trevelyan for her efforts and success in quickly concluding an agreement with the United States that will greatly benefit the sector. The US is a key export market for UK producers, but since the introduction of Section 232 tariffs by the previous administration, UK steelmakers have been selling to the US at a huge disadvantage.

“The tireless work of the Trade Secretary and her department has resulted in a strong deal for the UK that removes long-standing export barriers and reopens access to this important market. Without this agreement, UK producers would have remained at a distinct competitive disadvantage in US markets compared to competitors in the EU and Japan, with their exports severely reduced. From June, UK steel producers will enjoy duty-free access to customers across the US, from the Atlantic to the Pacific.

“Establishing our position as an independent trading nation does not happen overnight, but the UK has taken a bold and important step forward here, demonstrating its ability to negotiate firmly on behalf of British industry. This decision is the culmination of months of dedicated work that will now benefit communities across the country. Once again, I would like to thank and congratulate the government on behalf of the entire steel industry for its success in these negotiations. »

Allan Bell, British Steel’s Commercial and Purchasing Director, added: “British Steel has a long history of supplying quality steel to the United States, and we welcome this agreement and the opportunities it will bring.

“We will work with the UK government to provide all necessary information and look forward to further strengthening relationships with our US customers to deliver the products they need.”

British steel
www.makeuk.org/uksteel

Share.

Comments are closed.