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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Trading

    Posted By maria gbaf

    Posted on December 2, 2021

    Featured image for article about Trading

    WASHINGTON (Reuters) – The United States will delay its deal to remove tariffs on UK steel and aluminum because of concerns about post-Brexit trade rules affecting Northern Ireland, the Financial Times reported on Wednesday.

    The administration of former U.S. President Donald Trump imposed 25% and 10% tariffs on steel and aluminum imports on the European Union in 2018. The tariffs were withdrawn in October of this year, but they remain in place for Britain due to its exit from the EU.

    In a communication seen by the newspaper, a U.S. Commerce Department official was quoted as saying that talks with the UK on easing metals tariffs could not move ahead.

    The official cited U.S. concerns about British threats to trigger emergency clause Article 16, the report said https://on.ft.com/3olxsUh, especially from the U.S. Congress.

    Article 16 is an emergency brake that allows the UK or EU to seek to suspend parts of the Brexit agreement that introduced some checks on the movement of goods to Northern Ireland from mainland Britain if they lead to persistent difficulties.

    The FT said that the United States had informed the UK about the reason for the delay.

    The UK department of trade said: “We do not see any connection with this particular issue and the Northern Ireland Protocol and it will in no way affect the UK’s approach. That is because significant changes are needed to the Protocol in order to protect the Belfast (Good Friday) Agreement and Northern Ireland’s place in the UK internal market”.

    A British government spokesperson said the UK is in regular discussions with U.S. Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo on the issue and remained focused on agreeing a resolution for removal of tariffs.

    The United States has expressed grave concerns that disagreement between London and Brussels over the implementation of the 2020 Brexit treaty could undermine the Good Friday accord, which effectively ended three decades of violence in Northern Ireland.

    In September, U.S. House of Representatives Speaker Nancy Pelosi cautioned that there could be no post-Brexit trade deal with Washington if the Northern Ireland peace agreement was destroyed.

    (Reporting by Akriti Sharma, Shubham Kalia and Kanishka Singh in Bengaluru; Editing by Peter Cooney, Sonya Hepinstall & Shri Navaratnam)

    WASHINGTON (Reuters) – The United States will delay its deal to remove tariffs on UK steel and aluminum because of concerns about post-Brexit trade rules affecting Northern Ireland, the Financial Times reported on Wednesday.

    The administration of former U.S. President Donald Trump imposed 25% and 10% tariffs on steel and aluminum imports on the European Union in 2018. The tariffs were withdrawn in October of this year, but they remain in place for Britain due to its exit from the EU.

    In a communication seen by the newspaper, a U.S. Commerce Department official was quoted as saying that talks with the UK on easing metals tariffs could not move ahead.

    The official cited U.S. concerns about British threats to trigger emergency clause Article 16, the report said https://on.ft.com/3olxsUh, especially from the U.S. Congress.

    Article 16 is an emergency brake that allows the UK or EU to seek to suspend parts of the Brexit agreement that introduced some checks on the movement of goods to Northern Ireland from mainland Britain if they lead to persistent difficulties.

    The FT said that the United States had informed the UK about the reason for the delay.

    The UK department of trade said: “We do not see any connection with this particular issue and the Northern Ireland Protocol and it will in no way affect the UK’s approach. That is because significant changes are needed to the Protocol in order to protect the Belfast (Good Friday) Agreement and Northern Ireland’s place in the UK internal market”.

    A British government spokesperson said the UK is in regular discussions with U.S. Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo on the issue and remained focused on agreeing a resolution for removal of tariffs.

    The United States has expressed grave concerns that disagreement between London and Brussels over the implementation of the 2020 Brexit treaty could undermine the Good Friday accord, which effectively ended three decades of violence in Northern Ireland.

    In September, U.S. House of Representatives Speaker Nancy Pelosi cautioned that there could be no post-Brexit trade deal with Washington if the Northern Ireland peace agreement was destroyed.

    (Reporting by Akriti Sharma, Shubham Kalia and Kanishka Singh in Bengaluru; Editing by Peter Cooney, Sonya Hepinstall & Shri Navaratnam)

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