As the tax on US imports is implemented, the steel industry has cautioned that US President Donald Trump’s tariffs on UK steel “couldn’t come at a worse time.”
The US president’s tariffs, which went into effect at midnight in the US, or approximately 0400 GMT, have the British steel and aluminium sectors ready for the effects.
After desperate attempts to convince Trump to exclude British business from his worldwide tariffs seemed to have failed, officials stressed the need for a “cool-headed approach” and hinted that the UK government is unlikely to quickly respond against the 25% import tax.
Beginning on April 1, the European Union said it would impose counter-tariffs on imports valued at $28 billion.
The director general of trade group UK Steel, Gareth Stace, called the Trump administration’s action “extremely disappointing.”
He added: “President Trump must surely recognise that the UK is an ally, not a foe.
“Our steel sector is not a threat to the U.S. but a partner to key customers, sharing the same values and objectives in addressing global overcapacity and tackling unfair trade.
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“These tariffs couldn’t come at a worse time for the UK steel industry, as we battle with high energy costs and subdued demand at home, against an oversupplied and increasingly protectionist global landscape.
“What’s more, the EU is also pushing ahead with trade restrictive action that will amplify the impact of U.S. tariffs.”
