Under the deal, the United States and Britain will also continue to confer “market-distorting influence or ownership” in the steel and aluminum industries.
The United States said it would soon send a trade delegation to Britain for further talks.
The agreement “fulfils President Biden’s vision to restore relationships with our allies while helping to ensure the long-term viability of our steel and aluminum industries, the communities they support and, most importantly, workers in these industries on both sides of the Atlantic,” Ms. Tai said in a statement.
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Thomas M. Conway, United Steelworkers International President, said the union supports the agreement and that it is “an important step in addressing systemic issues such as illegal dumping and global overcapacity that threaten the vitality and future of our steel and aluminum industries.
Chris Swonger, chief executive of the Distilled Spirits Council, said US distillers “applaud the end of this long pricing nightmare”. According to the group, exports of American whiskey to Britain have fallen by 42% since 2018, when the tariffs were imposed.
“With the removal of debilitating UK retaliatory tariffs on US whiskey exports, US distillers are ready to fire up the stills,” he added.
The two countries have not professed their intention to complete the negotiations begun under the Trump administration for a free trade agreement. British leaders had hailed the potential deal as an independent step for their economy after leaving the European Union and pushed the Biden administration to start negotiations.
But the Biden administration has shown little appetite for adopting the Trump administration’s goals, saying instead that trade dialogue with the UK should explore “mutual international trade priorities rooted in our shared values, while promoting innovation and inclusive economic growth”.
The upcoming dialogue will address issues such as trade and investment involving small businesses, the digital economy, sustainable supply chains and the protection of labor rights and the environment, the Biden administration said. .