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BBC News business reporter Mitchell Labiak reported that US President Donald Trump signed an executive order doubling steel and aluminum tariffs from 25% to 50%, although the UK has been granted a temporary reprieve. The order, which took effect on Wednesday, increases import taxes for US-based companies purchasing goods from other countries, but the levy remains at 25% for the UK. This exemption is dependent on the tariff deal signed between the UK and US last month, which has yet to be implemented, leaving UK steel exporters subject to tariffs until then.
According to a UK government spokesperson, efforts are ongoing to work with the US to put the agreement into effect, thus removing the tariffs. However, despite initially granting the UK special treatment due to the US-UK Economic Prosperity Deal signed in May 2025, President Trump warned that the tariff on the UK could be increased after July 9, 2025, if certain conditions from the deal are not met. This move has been criticized by the Conservative party, describing it as a setback for British businesses.
The USA is a major steel importer globally, trailing only the European Union in terms of volume imported. The UK sends about 7% of its steel exports to the US, making the impact of tariffs significant for the industry. The exemption for the UK came after talks between Business Secretary Jonathan Reynolds and US Trade Representative Jamieson Greer in Paris. Gareth Stace, director-general of UK Steel, expressed relief at the temporary exemption but noted ongoing uncertainty surrounding final tariff rates and implementation timelines.
Rowan Crozier, CEO of metal-stamping company Brandauer, highlighted the damaging uncertainty caused by the Trump administration’s actions, impacting UK firms’ competitiveness and customer confidence. Despite the temporary relief, concerns remain regarding the need to formalize the May tariff agreement to completely remove the tariffs and provide clarity for both US and UK businesses. Analysts warn of short-term price increases for imported steel products, leading to challenges in planning and investment decisions for firms affected by the tariffs
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