WASHINGTON - The United States on Tuesday announced an agreement with Britain to end tariffs on steel and aluminium imports"By allowing for a flow of duty-free steel and aluminium from the UK, we fu
WASHINGTON - The United States on Tuesday announced an agreement with Britain to end tariffs on steel and aluminium imports"By allowing for a flow of duty-free steel and aluminium from the UK, we further ease the gap between supply and demand for these products in the United States," Commerce Secretary Gina Raimondo said in a statement.
British Prime Minister Boris Johnson cheered the announcement of the deal"with our American friends." US companies for years have struggled to compete with the glut of supply coming out of China, but Mr Trump penalised close trade partners citing national security concerns, which worsened relations with major US allies.
It also stipulates that any British steel company"owned by a Chinese entity must undertake an audit of their financial records to assess influence from the People's Republic of China government," the results of which will be shared with the United States, the Commerce Department said. "The Russian invasion of Ukraine should remind us all just how critical the domestic steel industry is to our national and economic security," said Mr Scott Paul, president of the Alliance for American Manufacturing.
In a statement, Ms Tai said the deal to remove the metal tariffs"delivers on President Biden’s vision to repair relationships with our allies while also helping to ensure the long-term viability of our steel and aluminum industries.""Hopefully we can now move forward and focus on deepening our thriving trading relationship with the US," the British official said.
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