As you may be aware, in response to US Section 232 tariffs on steel, aluminium and derivatives, the UK has been applying rebalancing measures on a variety of products as part of the EU’s co-ordinated response.
I am writing to inform you of the UK’s intention to introduce legislation in order to maintain the application of these rebalancing measures from 1 January 2021, once the Transition Period has concluded. The UK will also consult on the transitioned rebalancing measures to ensure they are in the best interests of the UK economy and steel and aluminium industry. We have published further details about our approach on GOV.UK, which can be found here.
It is imperative that the UK transitions these rebalancing measures to demonstrate that we will defend UK industry and uphold the rules-based system that is fundamental to supporting international trade. Our preference remains for the full removal of US tariffs, in which case there will no longer be a need to apply these rebalancing measures. We are pressing the US for an urgent resolution to these tariffs as part of our ongoing trade discussions, as they are harmful to industry on both sides of the Atlantic. We are maintaining the full list to maintain maximum pressure on the US to secure the removal of all these tariffs, but we will be consulting on the list and reserve the right to amend the list should we choose to at a later date.
I would like to reassure you that our key priority is to defend British interests across all sectors of the economy.
We will be holding a stakeholder teleconference on Thursday 10 Dec at 9:30am to discuss this announcement further. Please see below the details for joining:
Direct event online registration: http://emea.directeventreg.com/registration/9574514
Conference ID: 9574514
Any questions in the meantime please get in touch.
DIT Trade Disputes