British International Trade Secretary Anne-Marie Trevelyan announced on social media on March 22, local time, 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 UK will simultaneously cancel retaliatory tariffs on some US goods. It is reported that the United States will allow 500,000 tons of British-made steel to enter the US market with zero tariffs every year.
Tips: According to "Section 232", the United States can impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports.
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