U.S., U.K. reach agreement to ease steel, aluminum tariffs

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The U.S. and U.K. reach a deal to ease Section 232 tariffs on British steel and aluminum, effective June 1, U.S. Secretary of Commerce Gina Raimondo and United States Trade Representative Katherine Tai announce.

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The deal will allow 500K metric tons of British steel to be imported duty free, and lift retaliatory tariffs on more than $500M worth of U.S. exports to the U.K., including distilled spirits, various agriculture products and consumer goods including blue jeans and motorcycles.

The Trump administration imposed a 25% steel tariff and a 10% aluminum duty in 2018 on various countries; the U.S. and European Union brokered a deal in October to ease the tariffs, but the U.K. exit from the bloc meant the tariffs had remained on the country.