London - (dpa) - The exemption of British steel and aluminum products from additional US tariffs that were imposed under former President Donald Trump came into effect today, Wednesday.

The dispute between Britain and the United States was settled last March after the United States announced its intention to treat steel and aluminum imports from Britain with a system of tariff quotas instead of Section 232 of the British Trade Expansion Act, which imposed additional duties on these imports.

Under the new deal, British manufacturers will be allowed to export up to 500,000 tonnes of steel and 21,600 tonnes of aluminum to the US annually without being subject to the additional duties.

The British steel industry companies considered this exemption from fees a great victory, and it will provide new economic opportunities for companies across the supply chains of this sector, which includes 80,000 workers.

In return for the US concessions, Britain would allow an end to additional duties imposed on some US products such as wine, Levi's jeans and Harley-Davidson motorcycles.

"From today, British steel and aluminum exporters can return to exporting to our largest trading partner across the Atlantic," said Anne-Marie Trevelyan, Secretary of State for British International Trade.