UK to Suspend Some Retaliatory Tariffs on US Exports
The United Kingdom will suspend retaliatory tariffs on a range of U.S. goods after the U.S. on March 22 announced plans to remove its Section 232 tariffs on U.K. steel and aluminum. The U.K. said it will remove tariffs on U.S. whiskey, blue jeans, motorcycles and other products, and plans to work closely with the U.S. to “address the wider issue of global steel excess capacity and market-distorting practices.”
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The Commerce Department expects the tariff removals to benefit more than $500 million worth of American exports, including “various agriculture products and consumer goods.” Commerce Secretary Gina Raimondo said the U.K. decision will “reopen the British market to beloved American products.”
The U.K.’s Department for International Trade stressed that it will continue to closely monitor how the U.S. uses its Section 232 tariffs, which it said are “incompatible” with World Trade Organization rules. “The U.K. will keep the suspension under review in light of new developments, for instance developments that could deteriorate the situation for U.K. exports subject to the U.S. Section 232 steel and aluminum measures,” the country said. Although the U.S. said it plans to remove the Section 232 tariffs June 1, the U.K. didn’t immediately say when its tariff suspensions would take effect.