UK to Lift Retaliatory Tariffs on US Goods In Response to Section 232 Removals

The U.K. will suspend retaliatory tariffs on a range of U.S. goods after the U.S. announced plans to remove its Section 232 tariffs on U.K. steel and aluminum. The Commerce Department expects the tariff removals to benefit more than $500 million worth of American exports, including “various agriculture products and consumer goods.” Although the U.S. said it plans to remove the Section 232 tariffs June 1, the U.K. didn’t immediately say when its tariff suspensions would take effect.