♐The British government on Wednesday called out tariffs imposed by the United States government on global steel and aluminium imports, said it was “disappointing”. How ever they added that they are not planning to impose any retaliatory measures.
꧅The Trump administration officially increased tariffs on all steel and aluminum imports to 25% and duties on industrial and agricultural products that will go into effect April 1.
🔯Business Secretary Jonathan Reynolds has also told the media that they did not rule out future tariffs on US imports and said he would “continue to engage closely and productively with the US to press the case for UK business interests.”
𒁃“We will keep all options on the table and won't hesitate to respond in the national interest,” Reynolds reportedly said.
ꦐTreasury Minister James Murray echoed that, telling Times Radio: “We reserve our right to retaliate.”
ꩵThe European Union on Wednesday announced retaliatory import taxes on American goods, ranging from steel and aluminium to bourbon, peanut butter and jeans in response to Trump's move.
🅠European Commission President Ursula von der Leyen in a statement said, "As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros (USD 28 billion)."
🥀“We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs,” von der Leyen said.
Britain broke out of the European Union in 2020.
♎Center-left UK Prime Minister Keir Starmer has worked to build strong ties with President Donald Trump, in hope of avoiding the tariffs levied on many other US trading partners.
༺After a meeting last month at the White House, Trump and Starmer said their governments would work on sealing a long-elusive US-UK trade deal.
🌠Reynolds said the government remains “focused on a pragmatic approach and are rapidly negotiating a wider economic agreement with the US to eliminate additional tariffs and to benefit UK businesses and our economy.”
Impact of US Tariff On Global Steel And Aluminium Imports
🔥The tariffs are a new blow for Britain's once-mighty steel industry, which has shrunk dramatically from its 1970s peak and now accounts for 0.1% of the economy.
🌼Thousands of jobs are due to be lost at the country's biggest steelworks, at Port Talbot in Wales, as owner Tata Steel tries to make the unprofitable plant leaner and greener.
♛Trade body UK Steel said that in 2024, Britain exported 180,000 metric tonnes (198,000 US tons) of steel to the United States, about 7% of the UK's total steel exports by volume and 9% by value.
🐭The aluminium industry says the US market accounts for 10% of UK exports.
