The UK has secured a resolution to end the ongoing issue regarding steel and aluminium tariffs with the US. International Trade Secretary Anne-Marie Trevelyan has today secured a resolution with the US to end the ongoing issue around steel and aluminium tariffs. Following two months of talks, the Trade Secretary met with Commerce Secretary Raimondo in Washington DC this evening and the US announced an expansive removal of section 232 tariffs*, re-opening tariff free access for UK steel and aluminium exporters to the US.
Under what is known as the “Most Favoured Nation (MFN)” system, the World Trade Organization (WTO) requires that the same trading terms be applied to all WTO members, unless there is a trade agreement between two or more countries. This means that the UK, for example, cannot offer better trading terms to one country and not another, unless through a specific trade agreement.
Your goods have arrived at their export or import destination. You have submitted the required customs declarations and other documentation. So what now?
Plastic Packaging Tax Warning for Importers.
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