UK industry secretary to hunt exemption from US metal and aluminium price lists

The UK’s industry secretary, Jonathan Reynolds, will meet his US counterpart subsequent week to thrash out a timeline for exempting the United Kingdom from US metal and aluminium price lists after Donald Trump introduced he would double them.

British officers are looking for readability at the implications of Trump’s announcement on Friday evening that he deliberate to double the price lists from 25% to 50% from Wedneday 4 June, piling additional force on international metal industry.

Reynolds is predicted to satisfy his US counterpart, Jamieson Greer , on the OECD assembly in Paris subsequent week. He will search to agree a timeline for enforcing the deal agreed to decrease metal, aluminium, auto and different product price lists.

A UK govt spokesperson stated: “The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel.”

“We are engaging with the US on the implications of the latest tariff announcement and to provide clarity for industry.”

The Guardian reported that British officers had been intensifying industry talks with the USA and hope to look the deal applied inside of weeks.

A central authority supply stated: “Some countries are viewing the court ruling as an indication that they were right not to negotiate over tariffs. We’re taking the opposite view, and trying to get this deal implemented as soon as possible.”

Trump and Keir Starmer introduced a US-UK industry deal previous this month underneath which on British metal and aluminium will likely be lowered to 0, and price lists on as much as 100,000 British vehicles a 12 months will likely be lowered from 25% to 10%.

The deal didn’t quilt Trump’s blanket 10% price lists on all overseas imports, which a federal court docket overturned closing week, arguing that the USA president had overstepped his powers. An appeals court docket paused the ruling and stated Trump’s price lists may proceed whilst it examines the arguments.

The European Commission stated on Saturday that it “strongly” regretted Trump’s choice to double metal and aluminium price lists, and warned that the EU was once ready to retaliate.

“This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” a spokesperson for the fee stated, including that “the tariff increase also undermines ongoing efforts to reach a negotiated solution”.

“The EU is prepared to impose countermeasures, including in response to the latest U.S. tariff increase.”

“The European Commission is currently finalising consultations on expanded countermeasures. If no mutually acceptable solution is reached, both existing and additional EU measures will automatically take effect on 14 July – or earlier, if circumstances require.”