The United States and United Kingdom (UK) announced a new “232 tariff agreement” to allow historically based sustainable volumes of UK steel and aluminum products to enter the U.S. market without the application of Section 232 tariffs.
The United States will replace the existing 25% tariff on UK steel products and 10% tariff on UK aluminum products under Section 232 with a tariff-rate quota (TRQ), effective June 1, 2022.
Source KPMG
Latest Posts in "United Kingdom"
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)
- Supreme Court Decision Mandates Prudential to Pay VAT on £9.3 Million Success Fees
- UK Supreme Court Rules on VAT Grouping and Time of Supply in Prudential Case
- High Court Rules in Favor of Hotelbeds UK on Input Tax Recovery Without VAT Invoices
- HMRC Updates Notice 700/45: Correcting VAT Errors, Claims, and Penalties Guidance Revised
