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United States Officially Ends Most Section 232 For UK And Suspends Penalties On Ukrainian Products

On Wednesday, June 1, the United States officially ended Section 232 steel and aluminum tariffs for most products coming from the United Kingdom. The Biden administration’s temporary, one-year suspension of the Section 232 duties on steel products from Ukraine also took effect the same day.

As Connecting the Dots reported previously, in March U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai announced an agreement with the British government to replace the penalties with a system of tariff-rate quotas, or TRQs.

The agreement, which went into effect June 1:

Read the White House proclamation here. Read the announcement from the British government here.

Story via MSCI
Image courtesy of Pixabay via Pexels

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