UK looks at tariffs on US products if steel and aluminium get caught in trade war

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The British government is looking at Totemic American products for tariffs if Britain cannot win a steel and aluminum intersection with 25 percent tariffs.

On Sunday, Jonathan Reynolds, the Minister of Business and Trade, it constricted that if US President Donald Trump would force British steel and aluminum returns to the United Kingdom tariffs, including whiskey, jeans and motorcycles.

The previous targeted tariffs for products made by the United States have been suspended under Transaction agreed On March 2022, 2012 by the Biden Administration, the conservative government, who saw free access to the tariffs for British steel and aluminum exporters for the United States.

Reynolds said that if Trump reigns the US tariffs, that deal will “fall” to say that the BBC will “return to that position.”

He claimed that no decision was made, and he did not believe that it would happen. He hoped that there would be exceptions for UK steel and aluminum export. “I believe there is a basis for constructive involvement,” he said.

Reynolds noted that the US imported from Britain was “highly specialized.” For example, steel made in Sheffield, and that there were no alternative suppliers.

Douglas Alexander, Trade Secretary said that British steel exports in the United States cost about 400 million pounds, and tariffs have been “significant blow”, but it has compiled about 5% of the total export of the British steel.

The ministers are worried Avoid any aggravation of commercial dispute Washington and try to minimize tension before the visit of Prime Minister Sir Keyir Starters to the end of this month.

Star They will try to persuade the trump card not only to exclude from the UK steel and aluminum, but also to avoid the use of broader trade in Britain.

Reynolds rejected Trump’s claim that the value added tax – British sales tax was a tariff. “I would not be flawed as a tariff,” he said, adding that the United States also has sales taxes.

Reynolds’ comments came because the government had aimed at meeting the long-term future of the Great Britain’s steel industry, looking at high costs of electricity, and the recycling of metal.

The working manifesto has pledged to lay 2.5 billion pounds to support the steel industry through the National Wealth Fund.

Reynolds noted that the money will be spent on the initiatives that will provide the industry in the long run, such as electric bow furnaces. Negotiations on the future British steel factory in Scunthorpe are going on.

Reynolds noted that “steel plan” consultation “will discuss electricity costs for steel companies” so that the sector will become internationally competitive and encourages the use of steel in the homeland. Distorted expansion Heathrow Airport.