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UK-US steel tariff agreement put on hold
The BBC understands that a proposed deal to eliminate tariffs on UK steel exports to the US has been put on hold indefinitely. Tariffs of 25% are currently applied to steel exports to the US, which make up 6% of all UK steel exports by volume and 9% by value. Other countries face tariffs of 50% and so senior government sources insist that the UK is in a competitive position relative to others, and added they believed there, although senior government sources insist there "remains a path to zero". However, an agreement to reduce them to zero in short order was welcomed with some fanfare at the time by the government ... (full story)