Activity in the UK Global Tariff on 4 June was almost entirely focused on the iron and steel sector. The day’s headline development was the end of ten tariff rate quotas applied to various steel products imported from South Korea. These changes, which represent a significant trade liberalisation for the affected goods, were made effective from the previous day, 3 June 2026.
The themes
The regulatory landscape on 4 June was defined by a single, dominant theme: trade liberalisation in the iron and steel sector. All significant changes were concentrated here, with updates showing the removal of measures rather than the imposition of new ones. The day’s records, which included nomenclature and footnote changes, were primarily driven by the expiration of these trade remedies.
Headline items
The most significant event was the end of ten tariff rate quotas on various flat-rolled iron and steel products originating from South Korea. The changes, which were loaded on 4 June, were backdated to take effect on 3 June 2026.
These expiring quotas affected a range of goods across several commodity codes within Chapters 72, including certain hot-rolled sheets and clad steel products. This action removes the volume limits that previously governed preferential tariff access for these specific South Korean imports.
No new anti-dumping, countervailing, or safeguard duties were announced.
Coming into force
While a number of routine updates took effect, no major new measures were scheduled to come into force on 4 June. Furthermore, regulators did not load any notable future-dated measures into the tariff system.
What to watch
The removal of these specific quotas on South Korean steel, even as the broader steel safeguard regime remains in place, is a development worth noting. Importers and downstream users of these specific steel products should assess the impact of this liberalisation on sourcing strategies and supply chain costs from South Korea.