We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

U.S. & UK to announce plans for formal talks on metals tariffs on Wednesday

U.S., UK to announce plans for formal talks on metals tariffs on Wednesday.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

The United States and Britain are expected to announce plans on Wednesday to launch formal talks aimed at resolving a long-running trade dispute over U.S. steel and aluminum tariffs, two people familiar with the plans said.

The announcement will come as part of a virtual meeting on the metals tariffs between U.S. Commerce Secretary Gina Raimondo and UK Secretary of State for International Trade Anne-Marie Trevelyan, the sources told Reuters.

The two sides are not expected to announce a specific timeline for the talks nor a specific deadline for reaching an agreement, added one of the sources.

A U.S. Commerce Department spokesperson declined to comment on the announcement plans, and a spokesperson for the British embassy in Washington did not respond to a Reuters query about the talks.

Reuters reported last week that Raimondo and Trevelyan would speak virtually about the U.S. metals tariffs this month after the Commerce Department said that Raimondo was not in a position to travel to London for talks.

U.S. Trade Representative Katherine Tai said last week that the Biden administration had begun talks with Japan over the steel and aluminum tariffs but that discussions with Britain would start "when the time is right", without providing details.

Both Britain and Japan are keen to reach duty-free access to American steel and aluminum markets similar to that granted to the European Union on Jan. 1 as part of a quota deal reached with Washington last October.

The metals tariffs - 25% on steel and 10% on aluminum - were first imposed in March 2018 by former President Donald Trump on national security grounds and have been a major transatlantic trade irritant since then.

Britain adopted the EU's retaliatory tariffs on U.S. whiskey, motorcycles, blue jeans, tobacco and other products when it left the bloc at the start of 2021.

The EU dropped these retaliatory tariffs as part of its deal with the United States, which lifts tariffs on about 4 million tons of steel "melted and poured" in the bloc annually, with duties applied to higher volumes.

The U.S. and EU are pursuing a further agreement to curb global steelmaking with high carbon emissions, a goal aimed partly at curbing China's coal-fired excess steel output.

(Additional reporting by David Shepardson in Washington; Editing by Jacqueline Wong and Raju Gopalakrishnan).

Copyright (2022) Thomson Reuters. This article was written by Andrea Shalal and David Lawder from Reuters and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to legal@industrydive.com.


Newsroom: our daily email

Sign up to receive the daily headlines that matter to investors.


Please correct the following errors before you continue:

    Existing client? Please log in to your account to automatically fill in the details below.

    Loading

    Your postcode ends:

    Not your postcode? Enter your full address.

    Loading

    Hargreaves Lansdown PLC group companies will usually send you further information by post and/or email about our products and services. If you would prefer not to receive this, please do let us know. We will not sell or trade your personal data.

    Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

    Free news email alerts

    • Daily and weekly news
    • Major Publishers
    Register