Commodities News

U.S. to grant Britain duty-free steel quota of over 500,000 metric tons annually

WASHINGTON (Reuters) – The U.S.-UK steel trade agreement expected to be announced later on Tuesday will allow more than 500,000 tonnes of British-made steel annually into the United States duty-free, sources familiar with the deal said.

The deal requires the steel to be “melted and poured” in Britain and will remove Britain’s retaliatory tariffs on iconic U.S. products, including Harley-Davidson (NYSE:HOG) motorcycles, bourbon whiskey and Levi’s (NYSE:LEVI) blue jeans, the sources told Reuters on condition of anonymity because the deal has not yet been made public.

Source : Reuters

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