The U.S. and the United Kingdom have reached a new Section 232 agreement on steel and aluminum imports from the UK. As part of the deal the 25% retaliatory tariff on U.S. corn has also been zeroed out allowing U.S. corn to re-enter the U.K. market. Nebraska Farm Bureau Director of National Affairs Jordan Dux says in total, the agreement lifts the retaliatory tariffs on more than $500 million of U.S. products.
Dux says they were opposed to the Section 232 tariffs from the start..
While this is a good first step, he says the talks between the U.S. and U.K. this week did not move the needle on a broader agreement, especially one that includes agriculture.
The agreement will be effective June 1.
The U.S. Grains Council says the Section 232 agreement will provide opportunities to expand free and fair trade and strengthen the economic and strategic relationship with one of the U.S.’s greatest allies.
