Trump: Arrangement on British Steel and Aluminum Coming Soon
At a press conference in Scotland, President Donald Trump told local reporters that adjustments to the 25% tariff charged on British steel and aluminum would be known "pretty soon."
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
As part of the trade deal with the U.K., the U.S. promised that tariffs on steel and aluminum wouldn't go higher than the 25% in place at the time of the agreement, and that the Commerce Department would construct import quotas for British products that will allow those goods to avoid even the 25% tariffs once the quotas are in place.
Trump also said that when the trade protections designed to drive more pharmaceutical manufacturing to the U.S. are in place, the U.S. still will work with the U.K. to source medicines.
"We certainly feel a lot better with your country, working on pharmaceuticals for America, than some of the other countries," he said July 28. "You would not be using that as a cudgel."
"We'll be announcing on pharmaceuticals sometime in the very near future," he said. "We have a big plan on pharmaceuticals."