The UK will try to avoid US tariffs on steel and aluminum

The United Kingdom will try to persuade the US government not to impose a new 25% duty on British steel and aluminium, citing their important role in US manufacturing and defence industry. This was stated by UK Business Secretary Jonathan Reynolds, Reuters reports.

US President Donald Trump has announced plans to introduce new duties on all imported metals, which will be the next stage of his trade protectionist policy.

Reynolds acknowledged that the global steel market is facing an overcapacity problem, but stressed that the UK is not the source of it. According to him, British supplies to the US consist mainly of metals used in the production of defence products and are part of strategic supply chains.

«I’ll be seeking to engage… I think there’s a basis for discussion,» the minister said in London.

He also stressed that the main goal of Trump’s trade policy is to reduce the US trade deficit with the EU and China, not the UK.

Trump himself has previously hinted at the possibility of reaching an agreement with London. The UK hopes that certain discrepancies in trade statistics will allow it to avoid new duties.

The industry association UK Steel warns that the introduction of tariffs will have catastrophic consequences for the British steel industry, as the US is the second largest market for British steel exports.

As GMK Center reported earlier, US President Donald Trump has ordered a 25 per cent duty on all imports of steel and aluminium into the country, with no exceptions or exemptions. The new duties will come into effect on 12 March this year.