UK STEELMAKERS have said that US president Donald Trump’s decision to double import taxes on steel and aluminium to 50 per cent is “yet another body blow” to the industry.
Trade group UK Steel warned that the new tariff, which comes into effect on Wednesday, could lead to some orders being delayed or cancelled, BBC reported.
The 50 per cent import tax replaces the 25 per cent tariff announced earlier this year.
UK Steel director general Gareth Stace said: “The deal that prime minister Keir Starmer and president Donald Trump struck just a few short weeks ago is yet to be finalised, so this doubling of tariffs plunges the UK steel industry further into confusion... it is yet another body blow for all UK steelmakers in this torrid time.”
Stace said the trade group would now be “pressing our government to finalise the agreement to eliminate UK steel import tax and for it to come into effect urgently.”
“UK steelmakers should not have to shell out for this new steep hike in US steel tariffs – all we want is to continue producing the steel our US customers value so highly,” he said.
A spokesperson for the UK government said: “The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel.”
The Guardian reported that business secretary Jonathan Reynolds will meet US counterpart Jamieson Greer at an OECD meeting in Paris next week to discuss a timeline for exempting the UK from the tariffs.
The UK exports about £700m-worth of steel and aluminium a year to the US. The situation is expected to become more complicated and expensive until the UK-US deal is finalised.
