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U.S., UK launch talks to resolve steel, aluminum dispute

US 20 January 2022 04:38
U.S., UK launch talks to resolve steel, aluminum dispute

The United States and Britain on Wednesday agreed to start talks aimed at resolving their trade dispute over U.S. steel and aluminum tariffs, the countries said in a joint statement, Trend reports citing Reuters.

No specific date or timeline was given for the talks but discussions will address "global steel and aluminum excess capacity, including the United States' application of tariffs" on the metals from Britain.

"Both parties are committed to working towards an expeditious outcome that ensures the viability of steel and aluminum industries in both markets," the joint statement said.

They said the talks also will cover the UK's 25% retaliatory tariffs on U.S. products, which include whiskey, motorcycles, blue jeans and tobacco. Annual exports of U.S. whiskey to Britain have fallen by more than half since 2018, according to the Distilled Spirits Council, which welcomed the announcement.

A spokesperson for Britain's trade ministry said: "Until a deal is done we will continue to apply rebalancing measures on U.S. products, and won’t hesitate to take any action necessary to defend our vital steel and aluminium industries."

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