UK Steel Industry Faces Order Cancellations Following US Tariffs
US-imposed 25% tariffs on steel and aluminum imports disrupt UK exports, with industry leaders warning of significant financial risks and urging government action.
- US customers are canceling orders with UK steel producers due to the newly imposed 25% tariffs on steel and aluminum imports.
- Tata Steel UK estimates $100 million in sales to the US are at risk, while British Steel reports losing business where US domestic suppliers are available.
- UK steel leaders are calling for domestic safeguards to prevent market flooding by cheaper steel displaced from the US market.
- The UK government has refrained from immediate retaliatory tariffs, unlike the EU, which plans counter-measures starting April 1.
- High energy costs, which are 50% higher than those in France and Germany, continue to undermine the competitiveness of the UK steel industry.
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