DiT has made an important announcement overnight on its position from 1 January on tariffs on the US.
It will continue with the “section 232” tariffs on US steel and aluminium, but in a de-escalatory move, will suspend the tariffs on other US goods such as confectionary and frozen orange juice from the Boeing dispute which were levied by the EU last month after WTO Panel authorisation. It will consult on the approach on the section 232 tariffs next year and reserves the right to reimpose them should circumstances require that.
The UK has not legislated as yet for its UKGT ahead of the end of the transition period but the relevant delegated legislation is expected to be moved shortly once the negotiations with the EU are completed.
Today’s policy announcement is perhaps driven most by the necessity of questions of the legal basis of any continuing tariffs by the UK under the WTO Panel ruling beyond 1 January and the end of the transition period.
The BRC urges the UK, EU and US to reach an agreement to resolve the 16-year long dispute and to ensure retaliatory tariffs are removed for the benefit of consumers.