The UK government is advocating for an exemption from Donald Trump's proposed 25% tariffs on British steel, citing the minimal volume of exports to the US and their importance in strategic sectors. Business Secretary Jonathan Reynolds emphasized that the UK is not a significant steel supplier, accounting for only 10% of its steel exports to America. Unlike the EU and Canada, the UK is refraining from immediate retaliatory measures. Concerns rise over potential steel dumping in the UK market due to the new tariffs, which could harm local producers and increase inflation for consumers.
Despite pressure from the steel industry to respond with countermeasures, the UK government has indicated it will not immediately retaliate, in contrast to the European Union and Canada.
Business Secretary Jonathan Reynolds said the UK had a strong case for avoiding the new US border taxes, highlighting that Britain's steel exports to the US were relatively small.
Collection
[
|
...
]