October 1, 2022

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The United States and the United Kingdom have ended a four-year trade dispute over steel tariffs

The United States and the United Kingdom have ended a four-year trade dispute over steel tariffs

The United States and the United Kingdom ended a four-year trade dispute over steel and aluminum tariffs on Tuesday. US Secretary of Commerce Gina Raimondo and Trade Ambassador Catherine Toy In a statement Announced. Mainly writes that the two allies will compete together with China.

In 2018 US President Donald Trump has imposed a 25 percent tax on steel and a 10 percent tax on aluminum. He said he wants to protect U.S. manufacturers against subsidized imports. International trade partners of the United States, such as the European Union, announced taxes on American products such as Harley-Davidson motorcycles and bourbon (whiskey).

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The US-UK agreement should now protect steel and aluminum companies in both countries, including their employees, from such charges. “Since taking office, President Biden has made it a priority to rebuild our relations with our allies and allies around the world,” the US Secretary of State said in a statement. Biden resolved the conflict late last year With the European Union

Among other things, to properly assess China’s influence, any British steel company owned by a Chinese company should examine its financial records. The Company should share this information with the United States. This applies, for example, to British Steel, which was acquired by the Chinese Jingye Group in 2020. The U.S. Department of State says this will help “oppose China’s unjust trade practices and enable the United States to compete globally in the 21st century.” British Ministry a Report Mainly to protect the national steel industry.

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