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
