© Reuters. FILE PHOTO: A worker cuts a piece from a steel coil at the Novolipetsk Steel PAO steel mill in Farrell, Pennsylvania, U.S., March 9, 2018. REUTERS/Aaron Josefczyk
WASHINGTON (Reuters) – The British government on Tuesday said it would end retaliatory tariffs on U.S. motorcycles, whiskey and blue jeans after the United States announced “an expansive removal” of U.S. tariffs on UK steel and aluminium imports, effective June 1.
“The announcement is good news for the steel and aluminium sectors, which support the jobs of over 80,000 people across the UK,” Britain’s Department of International Trade said in a statement.
It said both sides had also agreed to work closely to address the wider issue of global steel excess capacity and market-distorting practices.
Britain says it will suspend retaliatory tariffs on U.S. products
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.