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Business Secretary: UK pushes for swift deal with US to remove steel, aluminum tariffs

12 March 2025 16:47

UK's Business Secretary Jonathan Reynolds has announced that the government is rapidly negotiating a broader economic agreement with the US to remove steel and aluminum tariffs.

Reynolds expressed disappointment over US President Donald Trump's decision to impose global tariffs on steel and aluminum, stating that "all options" are being considered to safeguard the national interest. While the UK has refrained from immediate retaliation, the EU has already announced plans for countermeasures on American goods, Caliber.Az reports via foreign media.

The 25 per cent tariffs on steel and aluminum imports to the US came into effect at midnight local time on March 12, approximately 4 a.m. GMT. The measures are expected to impact global trade, including key industries in the UK. Reynolds commented: "It's disappointing the US has today imposed global tariffs on steel and aluminium."

He added that the UK government is focusing on a pragmatic approach and is rapidly negotiating a broader economic agreement with the US to remove the tariffs and benefit UK businesses and the economy. He also emphasised ongoing support for UK industries, stating, "This government is working with affected companies today, and I back industry's application to the Trade Remedies Authority to investigate what further steps might be necessary to protect UK producers." In response to the US tariffs, the European Union announced it would introduce countermeasures targeting around 26 billion euros worth of US exports in April. 

The European Commission condemned the tariffs as "unjustified trade restrictions," with President Ursula von der Leyen stating, "As the US are applying tariffs worth $28 billion, we are responding with countermeasures worth 26 billion euros." UK officials have called for a "cool-headed approach" after their efforts to persuade President Trump to exempt British industry from the tariffs appeared to have failed. The government remains focused on finding practical solutions to protect UK businesses amidst the new global trade tensions. 

On March 12, 2025, US President Donald Trump imposed new global tariffs on steel and aluminum imports, marking a significant escalation in his administration's trade policies. The decision, which introduces a 25 per cent tariff on steel and a 10 per cent tariff on aluminum, is part of an ongoing effort to protect US industries from what the administration perceives as unfair competition and to bolster domestic manufacturing. The tariffs apply universally, without exemptions for any specific countries, and are positioned as necessary for national security purposes.

By Naila Huseynova

Caliber.Az
Views: 89

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