UK Shelves Steel Tariff-Free Quota Plan for US, Shifts to Negotiating "Permanent 25% Tariff"
BlockBeats News, September 16, according to the Financial Times, UK Prime Minister Starmer has shelved the idea of "granting UK steel exports a certain quota of zero tariffs to the United States," and instead prefers to negotiate with Trump to secure a "permanent" 25% tariff treatment for all UK steel export products.
Allies of Starmer revealed that if UK steel exports can obtain a fixed 25% tariff commitment, it will provide "certainty" for the industry and give it a competitive advantage—since this rate is only half of the 50% tariff paid by other countries.
UK government officials stated that, at present, there is no "formal agreement" to make the 25% preferential tariff for UK steel a "permanent treatment," but it is expected to be announced during Trump's three-day state visit to the UK starting on Tuesday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meridian weighs $400 million investment decision for Cabaçal mine
Saudi Arabia's oil production in October surged by 26%, reaching the highest level since the onset of the conflict, while Brent crude has dropped over 20% this month
OPEC's monthly report shows that Saudi Arabia's average daily crude oil production in October rose to 10.56 million barrels, just several hundred thousand barrels lower than the pre-war level in February and slightly above its quoted limit under the OPEC framework. Iraq's daily output in October also reached approximately 4.9 million barrels, a new high since the outbreak of war. Meanwhile, after the UAE exited OPEC and began competing in the market independently, both the UAE and Saudi Arabia recently slashed their official December cargo prices for Asian buyers, intensifying the competitive landscape.
Scorpio hits gold beyond Nevada resource
Capri Holdings appoints Estée Lauder senior executive Justin Boxford as CEO
Crypto prices
More
