America and Britain agree to remove duties on products including steel and aluminum

On Tuesday, March 23rd, the United States ended a long-running dispute with Britain over US steel and aluminum tariffs.

America said that the two allies will work closely to confront the excess capacity in the market from economies that do not work with their mechanisms, such as China.

US Commerce Secretary Gina Raimondo and US Trade Representative Catherine Taye said in a joint statement that the agreement would allow sustainable quantities of British steel and aluminum to enter the US market without implementing Section 232 duties.

In addition to setting aluminum smelting and casting requirements, the agreement requires any British steel company owned by a Chinese entity to audit its financial records to assess any influence from the Chinese government, and then share the results with the United States.

The agreement also removes retaliatory duties that Britain had imposed on imports of motorcycles, whiskey and other products from the United States.