US tariffs on British Steel are scrapped

TAXES PRESIDENT TRUMP'S ADMINISTRATION HAS PUT ON THE UK HAVE BEEN REDUCED OR ABOLISHED

- By IVAN MORRIS POXTON

US tariffs on UK steel and aluminium have been scrapped.

The UK-US trade deal has seen a host of tariffs introduced by President Trump's administration in recent months either reduced or scrapped.

On March 12, the USA imposed 25 per cent tariffs, or taxes, on all steel and aluminium imports.

The UK and British Steel's Scunthorpe plant were not exempt.

The new deal now sees these particular tariffs entirely scrapped for the UK, in a significant potential boost for the British steel industry.

The US is the UK's second most important export market for its steel, behind only the EU.

US exports account for 9 per cent of UK steel exports by value and 7 per cent by volume.