The UK is looking at the tariffs on US products if steel and aluminum are caught in a trade war
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The Government in the UK looks at Totemic US products with tariffs if Britain fails to win a steel and aluminum with 25 percent of US tariffs.
Jonathan Reynolds, a business and trade secretary, said on Sunday that if US President Donald Trump imposed huge import taxes on British Steel and Aluminum, this could see the return of British tariffs to US products, including whiskey, jeans and motorcycles.
Previous target tariffs to products created by now suspended under The deal agreed In March 2022, by the Conservative Government with the Biden Administration, which recorded access to a tariff for large steel and aluminum exporters in the US.
Reynolds said that if Trump reconsidering US tariffs, he would “fail” that job, saying the BBC “that we would return to that position”.
He insisted that the decisions had not been made and did not believe that it would happen. He hoped there would be exemptions for exports in the UK, Steel and Aluminum. “I believe there is a basis for a constructive engagement,” he said.
Reynolds said that the steel he now imported from Britain is “highly specialized” – for example, steel made in Sheffield and used the US Navy for submarine teapots – and that there were no alternative suppliers.
Douglas Alexander, a trade minister, said that British steel exports to the United States are worth around £ 400 million and that the tariffs will be a “significant blow”, but Downing Street noted that they were only about 5 percent of the total export in the UK, Steel.
Ministers are worried Avoid escalating trade dispute With Washington and try to diminish the tension before visiting Prime Minister Sir Keira Starmer at the White House later this month.
Starmar It will try to convince Trump not only to exclude British steel and aluminum from tariffs, but to avoid the use of broader trade sanctions on Britain.
Reynolds rejected Trump’s claim that value added tax – British sales tax – tariff. “I wouldn’t see VAT as a tariff,” he said, adding that now they also had sales tax.
Reynolds’ comments came because the Government presented a consultation intended for the long -term future of steel industry in the UK, looking at questions such as high electricity costs, unjust trade practices and recycling of waste metals.
The manifestation of the work committed the Government to put up to £ 2.5 billion to support the steel industry through the National Fund for wealth.
Reynolds said the money will be spent at the initiatives that will provide the industry with a long-term future-for the time of electric arched stove. Talks about the future British Steel Factory in Scuthorpe they continue.
Reynolds said that “Steel Plan” Counseling “will” examine the cost of electricity with steel companies “to make the sector internationally competitive and encourage the use of steel produced in the country in projects such as Defined expansion Heathrow airport.
