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21 NOVEMBER 2018 AL CIRCLE

UAE expects to resolve U.S. aluminium, steel tariffs issue in 2019

EDITED BY : HEENA IQBAL 1MINS READ

The UAE’s Minister of Economy Sultan Bin Saeed Al Mansouri said on Tuesday, November 20, that his country would resolve aluminium and steel tariffs with U.S. as the balance of trade is in favour of the United States. “I hope next year we will resolve it. We will continue to explain our case," Al Mansouri said on the sidelines of an event in Abu Dhabi.

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Earlier this year, US President Donald Trump imposed import tariffs of 10 per cent on aluminium and 10 per cent on steel, and negotiations have been going on between the two countries to exempt UAE from the import tariffs.

Al Mansouri said that Willbur Ross, Secretary of Commerce in the US, promised to look into the issue of aluminium and staff tariffs.

The UAE is the United States’ third-most-prolific source of aluminium, after Canada and the Russian Federation. The UAE exported 569,405 tonnes of aluminium in the first ten months of 2017. Bilateral trade between the UAE and the US totalled Dh90 billion in 2017 with the US trade surplus of Dh57.62 billion.


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EDITED BY : HEENA IQBAL 1MINS READ

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