UK’s Truss: Launching a review of tariffs against the US amid steel and aluminium trade row

Dhwani Mehta FXStreet

The UK launched a review of its tariffs levied against steel and aluminium imports from the US, British Trade Minister Liz Truss said in a statement on Monday.

Key quotes

"The UK will do whatever is necessary to protect our steel industry against illegal tariffs that could undermine British industry and damage our businesses.”

“Want to deescalate the dispute.”

These come in response to an ongoing trade conflict around steel and aluminium between the UK and the US.

Market reaction

Amid holiday-thinned light trading and broad-based US dollar weakness, GBP/USD keeps its range around 1.4150, modestly flat on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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