US, UK Begin Talks to Resolve Steel, Aluminum Dispute
The U.S. and the United Kingdom this week began talks aimed at resolving their trade dispute over steel and aluminum tariffs (see 2112210051), the two countries said in a Jan. 19 joint statement. Although they didn’t release a timeline for the negotiations, the two sides will try to seek “effective solutions” for the Trump-era Section 232 aluminum and steel tariffs and the U.K.’s subsequent retaliatory tariffs on U.S. exports.
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During a virtual meeting, Commerce Secretary Gina Raimondo and U.K. Secretary of State for International Trade Anne-Marie Trevelyan agreed that the “distortions” caused by “global excess capacity driven largely by China” pose a “serious threat” to steel and aluminum industries in both countries. “They agreed that, as the United States and the United Kingdom are close and long-standing partners, sharing similar national security interests as democratic market economies, they can partner to promote high standards, address shared concerns and hold countries that practice harmful market-distorting policies to account,” the statement said.