Tue, 11 Feb 2025

Tue, 11 Feb 2025 UK not planning to hit back at US on steel tariffs

Trade Minister Douglas Alexander said the UK would not have "a knee-jerk reaction" but "a clear-headed" response.

* The UK will not immediately retaliate against US steel and aluminium tariffs.
* Trade minister Douglas Alexander said the government would have a "cool and clear-headed" response, rather than a knee-jerk reaction.
* Many in the industry are calling on Britain to join EU and Canada in hitting back at the policy.
* The tariffs, set to apply from March 12, will mean that steel or aluminium coming into the US will be subject to an import tax worth 25% of its value.
* UK suppliers may not be significantly affected by the tariffs, but specialist product exporters could be impacted.
* Industry leaders are warning that the tariffs could lead to excess steel being "dumped" in the UK.
* Unite, the union representing UK steel workers, is calling on the government to buy more British steel in response.
* The government plans to meet with the steel industry and unions this week and visit key steel companies later.
* Shadow trade minister Harriett Baldwin said it was a "moment of great peril" for the UK steel industry due to its failure to engage with the new US administration.
* The UK's direction on tariffs appears to be an attempt to differentiate itself from other G7 allies.
  >>