Talks to resolve steel and aluminium dispute welcomed

Transatlantic business leaders have welcomed talks between UK and United States trade officials which are aimed at resolving a dispute over steel and aluminium tariffs.

No specific date or timeline was given for the talks but discussions will address "global steel and aluminium excess capacity, including the United States' application of tariffs" on the metals from Britain.

Talks will also reportedly cover the UK's 25 per cent retaliatory tariffs on US products, which include whiskey, motorcycles, blue jeans and tobacco.

Trade officials in both countries said they were committed to an "expeditious outcome" that would help preserve metals manufacturers in both markets.

Britain is keen to negotiate duty-free access to American steel and aluminium markets, similar to that granted to the European Union on 1 January.

The metals tariffs - 25 per cent on steel and 10 per cent on aluminium - were first imposed in March 2018 by former US president Donald Trump.

Duncan Edwards (pictured), chief executive of BritishAmerican Business, of which the Greater Birmingham Transatlantic Chamber of Commerce is part, said the tariffs were a “big irritant ” to the UK-US trading relationship.

He said: “This announcement is indeed welcome news as it addresses one of the remaining big irritants to what is such an important trade and investment relationship for both economies; this is something BritishAmerican Business has long called for.

“We have always said that tariffs don 't make good trade policy and that both the UK and the US should use their shared interests and strengths to advance global trade discussions, including those on the distortions resulting from steel and aluminium excess capacity.

“We therefore call on both the UK and the US to make these talks, and the creation of effective and creative solutions to the issue, a priority and we and our members are ready to help in any way we can. ”