Taiwo Popoola
States President Donald Trump’s tariffs on UK steel “couldn’t come at a worse time,” the industry has warned as the levy on US imports is introduced.
The British steel and aluminium industries are braced for the impact of the US president’s tariffs, which came in at midnight in the US, around 0400 GMT.
The UK government is unlikely to immediately retaliate to the 25 per cent import tax, with officials stressing the need for a “cool-headed approach”, after last-ditch efforts to persuade Trump to spare British industry from his global tariffs appeared to have failed.
The European Union announced it would be implementing counter tariffs on 28 billion dollars worth of goods starting on April 1.
Gareth Stace, the director general of trade association UK Steel, branded the Trump administration’s move “hugely disappointing.”
He added: “President Trump must surely recognise that the UK is an ally, not a foe.
“Our steel sector is not a threat to the U.S. but a partner to key customers, sharing the same values and objectives in addressing global overcapacity and tackling unfair trade.
“These tariffs couldn’t come at a worse time for the UK steel industry, as we battle with high energy costs and subdued demand at home, against an oversupplied and increasingly protectionist global landscape.
“What’s more, the EU is also pushing ahead with trade restrictive action that will amplify the impact of U.S. tariffs.”
