UK’s steel industry spared Trump’s new 50 per cent tariffs – but exemption deal still not in place
UK in race against time to secure steel tariff exemption
- US President Donald Trump has spared the UK's steel and aluminium industry from a 50 per cent tariff, but gave the UK five weeks to finalise a full exemption.
- The UK-US trade deal, unveiled in May, was expected to exempt Britain from steel tariffs completely, but its implementation is delayed, reportedly due to the American side.
- Tariffs will remain at 25 per cent for imports from the UK, but could increase to 50 per cent from 9 July if the deal isn't finalised.
- UK Steel director general Gareth Stace urged the Government to “apply rocket boosters” to the negotiations.
- The Government said it is pleased the UK will not be subject to the additional tariffs and vowed to secure the removal of the 25 per cent levies.