The United States on Tuesday announced it would skip doubling steel and aluminum tariffs for Britain, hours after the UK government said the two countries agreed on the need to implement a tariff relief deal as soon as possible.

Added levy on metal imports could drive up U.S. prices for construction projects, automobiles, appliances and more

The Gulf state, which is reliant on the U.S. security umbrella, has pledged to invest $1.4 trillion in the U.S. over the next decade. Its sovereign wealth funds, including Abu Dha