The UK hopes to secure its own deal to suspend duties for British goods entering the US after the Biden administration yesterday (15 June) confirmed a similar agreement with the EU to suspend tariffs for five years.
The UK and EU have both faced US tariffs because of a 17-year dispute over subsidies for aircraft firms Boeing and Airbus.
The EU, which included the UK at the time, imposed retaliatory duties in response in 2018.
As detailed in yesterday’s IOE&IT Daily Update, the EU-US deal suspends multi-billion duties for five years to give both parties time to find a lasting solution.
UK international trade secretary Liz Truss met with US trade representative Katherine Tai today (16 June) to conclude a separate deal for the UK, the Telegraph reports.
The UK continues to provide subsidies to Airbus post-Brexit but struck an independent deal with the White House in March to suspend tariffs on £550m of UK exports, including Scotch whisky and Stilton cheese.
Telegraph sources said UK officials were hopeful of agreeing a similar deal to the EU’s within days.
The separate dispute between the UK, EU and US over steel and aluminium tariffs levied by the Trump administration rumbles on, however.
The EU and US have agreed to form a working party to look at the issue, but Biden is under domestic pressure to continue to protect the US steel industry.
Truss and Tai were also expected to discuss the tariffs imposed as part of this dispute today.