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"
- UK Supreme Court Rules VAT Applicable on Success Fees After Exit from VAT Group
- JPMorgan Chase Bank NA v HMRC: VAT Dispute on Intra-group Service Taxability, Appeal Dismissed
- UK Considers VAT Cut on Domestic Fuel: Targeted Relief or Broad Measure?
- Supreme Court Clarifies VAT Grouping and Time of Supply Rules in Prudential Assurance Case
- Guernsey Seeks Companies to Support New GST Administration, Tender Deadline Approaches