New 25 per cent US tariffs on steel and aluminium hit UK business
President Trump has added a 25 per cent tariff on hundreds of products containing steel and aluminium including construction machinery and automotive parts in exhaust systems.
Industry leaders have warned of 'significant risks' for British manufacturers caught up in the tariff trap and urged the government to step in. It had been assumed that UK-US tariffs under the Trump administration had been settled at 10 per cent.
At issue is so-called Section 232 goods manufactured in the UK under reconstituted US tariffs. It is understood the president extended the scope of Section 232 tariffs under pressure from American steel unions.
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