The US President announced last night that tariffs on Steel and Aluminium would be raised from 25% to 50% to “secure the steel industry in the United States” – adding that “nobody is going to get around that.”
Ministers are scrambling to find out if Donald Trump doubling steel tariffs will affect UK firms.
The US President announced last night that tariffs on Steel and Aluminium would be raised from 25% to 50% to “secure the steel industry in the United States.”
And it’s unclear whether the increase will affect exports from British manufacturers.
Under the terms of the deal agreed by Keir Starmer and Donald Trump last month, import taxes on steel and aluminium were reduced to zero.
But while the deal was agreed in principle, it’s yet to take effect.
But ministers now face a scramble to get parts of the trade deal to take effect before the new tariffs kick in on June 4.
And announcing the new tariffs during a speech to steelworkers in Pennsylvania on Friday, Mr Trump said: “Nobody is going to get around that.”
The Mirror understands UK negotiators will speak to US counterparts, and are seeking to understand the implications of the changes as soon as possible.
A Government spokesperson 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.”
“We are engaging with the US on the implications of the latest tariff announcement and to provide clarity for industry.”
Trump said the doubling of tariff on steel will apply to aluminium, too
“This will be yet another BIG jolt of great news for our wonderful steel and aluminium workers,” he said on his social media platform after his rally in Pennsylvania.
The president wrapped up his speech in Pennsylvania by thanking steelworkers for their decades-long contributions in helping build the country’s military equipment and cities.
“With the help of patriots like you, we’re going to produce our own metal, unleash our own energy, secure our own future, build our country, control our destiny,” he said. “We are once again going to put Pennsylvania steel into the backbone of America like never before.”
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The price of steel products in the US has increased roughly 16% since he became president, according to the government’s producer price index
Trump says domestic steel production is a ‘matter of national security’
The president made the remark at a rally in Pennsylvania to celebrate a deal for Japan-based Nippon Steel to invest in U.S. Steel.
Trump said jobs in Pittsburgh’s iron and steel mills were obliterated. He said the country was getting army tanks, boats and ships produced in China.
“The strong steel industry is not just a matter of dignity or prosperity or pride,” he said. “It’s, above all, a matter of national security.”