The US has exempted the UK steel industry from the recently increased tariffs on steel and aluminium, maintaining a 25 percent rate for British products. This decision comes after a deal struck between the US and UK, which counterpoints a significant tariff hike on imports from other countries to 50 percent. However, UK Steel's director expressed concerns over future uncertainties regarding tariff rates and advised caution to US customers considering UK orders, indicating that future changes could dramatically affect trade dynamics.
The US president has decided to provide different treatment to the UK after a deal that was struck between Washington and London last month, as he doubled tariffs on imports from elsewhere to 50 percent.
The industry has warned that uncertainty remains over the final tax rate, despite the continuation of the 25 percent tariffs on British steel and aluminium for now.
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