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Downing Street has played an impact on the British economy of American tariffs on steel and aluminum, even when the British industry of Steel warned that President Donald Trump’s proposals would be “devastating”.
Spokesman for Prime Minister Sir Keir Starmer He refused to say on Monday whether Britain would take revenge on Trump’s move to impose 25 percent of tariffs on all steel and aluminum sold to the US.
“We have not seen the exact details yet, I would not want to in advance,” the spokesman said, adding that only 5 percent of steel exports in the UK in 2023 and 6 percent of aluminum exports were now consisting of only 5 percent of steel exports.
“It’s important to see this in the context of our export,” he said.
However, attempt Downing Street to diminish significance Trump’s tariff The British Steel Industry did not divide the threat, which warned that the imposition of US tariffs would be a “devastating blow”.
Although the export of steel in the UK has been decaying in recent years due to the wider drop of industry, the US is the second largest export market after the EU.
The US consisted of about 165,000 tons of British steel exports – about 5 percent of total exports, but 8 percent of values and worth close to £ 400 million.
“At the time of reduction of demand and high costs, growing protectionism globally, especially in the US, will suffocate our exports and damage more than £ 400 million contributions to the steel sector in the trade balance,” said Gareth Stace, CEO of the UK Trade Body Steel.
In his first term as an American president, Trump has imposed a 25 -pointed steel import and 10 percent on aluminum, before approved by the exemption of several trade partners, including Canada and Mexico.
In 2017, the UK performed about 300,000 tonnes of steel in the United States before Trump imposed tariffs in 2018.
The EU has avenged tariffs for 2018 by imposing a native of a series of American imports, including Bourbon whiskey, motorcycles and Harley-Davidson motorcycle motorcycles. Britain, which was still part of the EU unique market by 2020, also imposed that tariff.
According to the certificate, midnight by the administration of Joe Biden, the United States and the United Kingdom agreed on the 2022 tariff rate of the quota of tariff rates.
Starmer and his ministers have so far tried to avoid the trade of Trump holding his head down, decisively refusing to publicly criticize the US president.
However, ministers have Retained in reserve The possibility of retaliation in the event that the tariffs are imposed by the UK, and trade experts said they could empty the old list of EU sanctions.
However, the whiskey whiskey industry would be opposed to the tariffs imposed by Bourbon, fearing that his own product Trump could target the Tit-Za-Tat dispute.
Industry experts said it was not yet clear whether Trump’s recent announcements would overpower existing arrangements, but warned that they added to general uncertainty at a time when global markets were flooded with cheap Chinese exports.
Global excess capacity is estimated at 543 million tons in 2023 and predicted to reach 630 mn tons by 2026, UK Steel said.
The executives have announced that they are privately worried that foreign steel is diverted to the UK as a result of new trade barriers.
Alasdair McDiarmid, Assistant Secretary General in the community of Steel Union, said “a criminal new tariff on steel exports in the UK will be extremely harmful and endanger jobs.”
“For now, it would also be self -help, because the UK is a leading supplier of special steel products that require their defense and aviation sectors,” he added.
