The UK has successfully avoided the doubling of steel and aluminium tariffs from 25% to 50%, as recently ordered by US President Trump. This exemption is contingent upon the adherence to the Economic Prosperity Deal established between the US and the UK, which came into effect on May 8. Should the UK fail to comply with the terms of this deal by July 9, the tariffs may still increase. UK officials remain focused on safeguarding the interests of British businesses and jobs in crucial sectors such as steel manufacturing.
The UK has been spared from US President Donald Trump's executive order doubling steel and aluminium tariffs. The order signed by Trump raises import taxes for US firms buying from other countries, keeping the levy at 25% for the UK.
The UK carve-out is dependent on the US-UK Economic Prosperity Deal from 8 May, which outlines terms that, if not complied with by 9 July, could lead to the levy increasing to 50%.
A UK government spokesperson confirmed that they are 'committed to protecting British business and jobs across key sectors, including steel as part of our plan for change'.
Collection
[
|
...
]