By Esi-ife Arogundade
The UK steel industry has expressed concern that President Donald Trump’s tariffs on British steel could not come at a worse time, as these levies on US imports have now taken effect. The tariffs were activated at midnight in the US, which was around 0400 GMT.
The UK government is not expected to retaliate immediately against the 25 percent import tax, with officials emphasizing the importance of a “cool-headed approach.” Last-minute efforts to persuade Trump to exempt the UK from his global tariffs appear to have been unsuccessful.
Meanwhile, the European Union has announced that it will impose counter-tariffs on $28 billion worth of goods starting April 1. Gareth Stace, the director general of the trade association UK Steel, described the Trump administration’s decision as “hugely disappointing.”
Stace remarked, “President Trump must surely recognize that the UK is an ally, not a foe. Our steel sector does not pose a threat to the U.S.; rather, it is a partner to key customers who share the same values and objectives in addressing global overcapacity and combating unfair trade.”
He continued, “These tariffs could not come at a worse time for the UK steel industry, as we are grappling with high energy costs and subdued domestic demand in an oversupplied and increasingly protectionist global market. Furthermore, the EU is advancing with trade-restrictive measures that will exacerbate the impact of the U.S. tariffs.”
