Good news for construction - a trade agreement has been reached which will lower tariffs on steel and aluminum imports from the UK.
In line with AGC calls for construction materials tariff relief, the U.S. and U.K. reached a Section 232 trade agreement which will lower tariffs on steel and aluminum imports from the UK. The agreement is based on a tariff-rate quota where the rate for steel (25%) and aluminum (10%) will be lowered to 0% until a quota has been reached, at which point the previous rate will set back in. Similar deals were made with the EU and Japan within the last year. AGC will continue to press for further tariff relief on construction materials to help mitigate the sustained inflationary environment.
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