The UK remains subject to President Trump's 25% tariffs on steel and aluminium, which affects exports worth approximately £2.7 billion. Prime Minister Keir Starmer has not announced immediate retaliation, instead stating that all options will be considered. The tariffs impact not only raw materials but also finished goods, making their economic influence more significant. Meanwhile, the UK seeks a free trade deal with the US that could remove these tariffs, although the timeline for such an agreement is uncertain. The potential for reciprocal tariffs looms, especially given the UK’s VAT rate.
The UK has not been exempted from Trump's 25% tariffs on steel and aluminium, impacting various sectors and totaling approximately £2.7 billion in exports.
Prime Minister Keir Starmer states that the UK will "keep all options on the table", highlighting a potential path for future negotiations under the looming tariffs.
The US government's new tariffs not only affect raw materials but also finished products, putting pressure on the UK's broader export market to the US.
The UK's hopes of concluding a free trade deal with the US may influence future tariff considerations, but uncertainty remains over the timeline for such negotiations.
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