U.S, U.K reach an agreement to cancel tariffs on UK steel and aluminium

On March 22, local time, British International Trade Secretary Anne-Marie Trevelyan announced on social media that the United States and the United Kingdom have reached an agreement to cancel high tariffs on British-made steel, aluminum and other products. At the same time, the U.K will simultaneously cancel retaliatory tariffs on some U.S goods.

It is reported that the United States will allow 500,000 tons of British-made steel to enter the U.S market with zero tariffs every year. At the same time, the U.K should lift retaliatory tariffs on U.S goods such as Harleys, bourbon, Levis jeans and cigars.

U.S measures to remove tariffs on British steel and aluminum imports will take effect on June 1, the British government said.