UK Seeks Exemption from Trump’s New 25% Steel and Aluminium Tariffs
British officials argue their steel and aluminium exports are crucial to U.S. defense and manufacturing supply chains.
- President Trump announced a 25% tariff on global steel and aluminium imports, stating there would be no exceptions or exemptions.
- UK Business Secretary Jonathan Reynolds plans to negotiate for exemptions, emphasizing the strategic importance of British steel and aluminium in U.S. defense and supply chains.
- The U.S. is the second-largest export market for UK steel, worth over £400 million annually, making the tariffs potentially devastating for the British steel industry.
- Analysts suggest the tariffs could lead to cheaper steel imports in the UK from other markets, potentially benefitting construction but harming domestic steel producers.
- UK Steel, an industry group, criticized the tariffs as harmful to free trade, while Reynolds expressed optimism about reaching a favorable agreement with the U.S.