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US, UK settle metal tariff fight; UK to audit British steel firms owned by Chinese entities

By Kat Lucero ( March 22, 2022, 22:34 GMT | Insight) -- The US won’t impose national security tariffs on “historically-based sustainable volumes” of steel and aluminum goods that must be melted and poured in the UK, the Commerce Department and US Trade Representative announced. In return, the UK will require any British steel company owned by a Chinese entity to submit to a major audit of its financial records to determine whether it has ties to Beijing, and remove its retaliatory levies on US exports. The US won’t impose national security tariffs on “historically-based sustainable volumes” of steel and aluminum goods that must be melted and poured in the UK, the Commerce Department and US Trade Representative announced today....

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