In 2018, former US President Donald Trump imposed 25 per cent tariffs on UK steel and 10 per cent on aluminium in order to protect domestic producers.
But international trade secretary Anne-Marie Trevelyan has now announced that the UK has secured a resolution with the US to end the tariffs following two months of talks.
Under the agreement, there will be quotas for tariff-free imports of the two metals.
The announcement is good news for the steel and aluminium sectors, which support the jobs of over 80,000 people across the UK. The changes will take effect at the beginning of June.
In response the UK will suspend rebalancing measures on US products including whiskey, blue jeans and motorcycles.
Both sides have also agreed to work closely to address the wider issue of global steel excess capacity and market-distorting practices.
China, which has approximately 10 times the steelmaking capacity of the US, has been accused of dumping cheap steel on the global...