Tuesday, 24 May, 2022

US, UK open talks to resolve steel tariff dispute

WASHINGTON: The United States and Britain opened talks on Wednesday aimed at resolving the dispute over tariffs Washington placed on imported steel and aluminum during former president Donald Trump’s administration.

Citing the “serious threat” posed by excess global capacity of the metals, which the countries largely blamed on China, top trade officials from Washington and London said they are “committed to working towards an expeditious outcome,” according to a joint statement.

The tariffs imposed on US allies by the Trump administration caused friction with trading partners including Britain, which retaliated with punitive duties on American goods, report agencies.

US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo met virtually with Britain’s International Trade Secretary Anne-Marie Trevelyan, and pledged to find “effective solutions.” The officials “discussed the impact on their industries stemming from global excess capacity driven largely by China.