UK appears to have been spared immediate hit of Trump's 50% steel tariffs
The US President has decided to 'provide different treatment' to the UK after a deal that was struck between Washington and London last month.
Levies will remain at 25% for imports from the UK, however Britain could still be subject to the higher 50% rate from July, according to a version of the order confirming the tariff increase posted by a White House X account on Tuesday.
According to the text of the order, Mr Trump has 'further determined that it is necessary and appropriate to allow for the implementation of the U.S.-UK Economic Prosperity Deal of May 8, 2025 (EPD), and to accordingly provide different treatment, as described below, for imports of steel and aluminum articles, and their derivatives, from the United Kingdom'.
🚨 @POTUS just signed the order raising tariffs on steel and aluminum imports to 50%.
Here is the text of the order:
1. On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary's investigation into the effect of imports of steel… https://t.co/4uwBVmd4Zj
— Rapid Response 47 (@RapidResponse47) June 3, 2025
The order later says that rates will for now stay at 25% and adds: 'On or after July 9, 2025, the Secretary may adjust the applicable rates of duty and construct import quotas for steel and aluminum consistent with the terms of the EPD, or he may increase the applicable rates of duty to 50 percent if he determines that the United Kingdom has not complied with relevant aspects of the EPD'.
The 50% tariff rate more widely is due to come into force from 12.01am Washington DC time on Wednesday, which is shortly after 5am in the UK.
A Government spokesperson said: '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 as part of our plan for change.
'We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs.
'We will continue to work with the US to implement our agreement, which will see the 25% US tariffs on steel removed.'
Prime Minister Sir Keir Starmer's trade deal with the US, struck last month, included relief on the steel and aluminium tariffs, but the implementation has not yet been finalised.
Business Secretary Jonathan Reynolds met White House trade representative Jamieson Greer in Paris on Tuesday.
According to the Department for Business and Trade, Mr Reynolds and Mr Greer discussed a desire to implement the deal struck between London and Washington as soon as possible, and committed to working closely to make it happen.
The general terms for the agreement between the UK and US were published in May when the deal was announced, and outline the intended plans.
White House press secretary Karoline Leavitt was asked if there was a text of the full deal ready to be released, and told reporters on Tuesday: 'There 's most definitely text with this deal, there is language that this side has seen.
'You'll have to ask the UK Parliament why they haven't seen it from their own Government, I obviously can't answer that question.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NBC News
21 minutes ago
- NBC News
Trump says he is 'very disappointed' in Elon Musk's attacks on the GOP spending bill
WASHINGTON — President Donald Trump on Thursday sharply criticized Elon Musk after the Tesla CEO criticized the House-passed GOP spending bill as an " abomination." "I've always liked Elon," Trump told reporters in the Oval Office during a bilateral meeting with Germany's chancellor, but he said he was "very surprised" by Musk's comments denouncing the legislation. "You saw the words he had for me. He hasn't said anything about me that's bad. I'd rather have him criticize me than the bill, because the bill is incredible," the president said. Trump said that the reconciliation measure would be the "biggest tax cut," saying that it would especially help middle-income Americans and small businesses. "Elon's upset because we took the EV mandate, which was a lot of money for electric vehicles and they're having a hard time with electric vehicles and they want us to pay billions of dollars in subsidy," Trump said. "Elon knew this from the beginning." He was referring to the bill's provisions that would cut tax credits implemented by the Biden administration that were designed to incentivize purchases of electric vehicles. Trump also suggested that Musk was partially upset with him because the White House pulled Musk ally Jared Isaacman's nomination to lead NASA. The president said, "I didn't think it was appropriate" because the prospective nominee was a Democrat. "He wanted that person, a certain person. I can understand why he's upset," said Trump, who added that he had a "great relationship" with Musk, but said, "I don't know if we will anymore." "I'm very disappointed because Elon knew the inner workings of this bill," Trump continued. "I'm very disappointed in Elon. I've helped Elon a lot." After officially leaving the Trump administration last week, Musk has publicly denounced the House reconciliation bill, calling it this week a "disgusting abomination." The version narrowly passed by the House would extend Trump's 2017 tax cuts, eliminate taxes on tips and overtime work, boost funding for immigration enforcement and the military, would make cuts to Medicaid and the Supplemental Nutrition Assistance Program and raise the debt ceiling by $4 trillion. The nonpartisan Congressional Budget Office predicted in a new estimate released Wednesday that the legislation would add $2.4 trillion to the national debt over the next decade.
Times
22 minutes ago
- Times
Trump-Merz meeting: president says Russia and Ukraine are ‘children fighting'
Trump said that the world would be 'amazed' by how tough he would be on Russia if the fighting continued. 'Remember this — they like to say I'm friends with Russia. I'm not friends with anybody,' he said. President Trump compared the war between Russia and Ukraine to 'two young children fighting like crazy in a park'. 'Sometimes you're better off letting them fight for a while and then pulling them apart,' he added. He said he told Putin during a phone call yesterday that 'maybe you're going to have to keep fighting, suffering a lot'. 'You see it in hockey, you see it in sports, the referees let them go at it for a while,' he added. Asked about a deadline for imposing further sanctions on Russia, Trump said that the date was 'in my brain'. Merz agreed with Trump that Germany was 'looking for measures to bring this war to an end', and mentioned that tomorrow is the 81st anniversary of D Day. 'That was not a pleasant day for you?' Trump asked. 'This was the liberation of my country from Nazi dictatorship,' Merz replied. Trump said he expected President Putin to respond with force to the successful drone attack by Ukraine on Russia's bombing fleet last week. 'He got hit, he's been doing hitting,' said Trump. 'But he got hit hard. I don't think he's playing games.' Trump said that Merz 'feels the same way' about wanting to end the war. Trump said he was surprised by Elon Musk's reaction to his 'big, beautiful' tax and spending bill. 'Elon knew the inner workings of this bill better than almost anybody,' Trump said. 'He only developed a problem when he found out we were going to have to cut the EV mandate,' he added, referring to a subsidy that paid billions of dollars to Musk's electric car company Tesla. 'I'm very disappointed in Elon, I've helped Elon a lot,' the president added. Musk has called the bill a 'disgusting abomination' and lobbied Republicans in Congress to oppose its passing. Trump casually dismissed claims that the US would withdraw its troops from Germany, saying they would remain 'if they'd like to have them there'. There are about 35,000 active-duty US troops stationed in Germany. 'They're highly paid troops and they spend a lot of money in Germany,' Trump said. Merz has brought the president the framed birth certificate of Trump's grandfather, Friedrich Trump. Friedrich Trump was born in Kallstadt, Germany, which was then part of the Kingdom of Bavaria before immigrating to the United States in 1885. The questions turned to domestic politics and Trump's order to open a criminal investigation into anyone who worked to hide Biden's mental decline from the public during his time in office. Trump said that Biden 'didn't have much of an idea what was going on'. 'He was never for open borders, he was never for transgender for everybody,' said Trump. Trump said that his interactions with Merz over the past few months had been both 'difficult' and 'good'. 'I've been dealing with the chancellor. He's a very good man to deal with,' said Trump. 'He's difficult, you wouldn't want me to say you're easy, right?' He said he hoped to make progress on trade and tariff negotiations with Merz. Trump characterised his 90-minute call with President Xi as 'very positive'. He said that the two countries had agreed to hold talks in the near future to reach an impasse over trade and rare earth materials. 'I'll be going there with the first lady at a certain point and he'll be coming here, hopefully,' he said. Trump's Oval Office meeting with Merz began with questions about his travel ban on 12 countries, including Afghanistan, Iran and a host African nations. Trump said that the ban was needed for security and terrorism concerns. 'We have thousands of murderers,' Trump told reporters. 'I hate to say this in front of the chancellor, but you have a little problem too. You have your own difficulties too.' Merz has arrived at the White House before the first meeting between the two leaders. Trump greeted the German chancellor with a friendly handshake at the door to the White House and the two leaders walked inside. Asked by a reporter if he had a message for the German people, Trump responded: 'We love the people of Germany.' Merz has struck a cordial tone in the lead-up to Thursday's Oval Office meeting, writing in a statement this week that the US was 'an indispensable friend and partner of Germany'. 'Our alliance with America was, is, and remains of paramount importance for the security, freedom, and prosperity of Europe,' the chancellor wrote. Those remarks stood in contrast to his posturing prior to his election as chancellor in May. In February, Merz said that strengthening Europe was his 'absolute priority' in order to 'achieve independence' from the US. The same month, he wrote on X that his impression was 'that Russia and America are finding common ground — over the heads of Ukraine, and consequently over those of Europe'. President Trump held a 90-minute phone conversation with President Xi of China on Thursday amid stalled trade negotiations between the two countries. The US president said the conversation had a 'very positive conclusion' and announced that the two countries would hold talks in the hopes of breaking an impasse over tariffs and global supplies of rare earth minerals. 'Our respective teams will be meeting shortly at a location to be determined,' Trump wrote on his social media platform. Trump added that Xi had 'graciously' invited him and the first lady Melania Trump to visit China, and that he had reciprocated the gesture. The Chinese foreign ministry said Trump had initiated the call between the leaders. Over the years foreign leaders have gone out of their way to bear eye-catching gifts when they meet President Trump: a personalised golf club, a nativity scene made of mother-of-pearl, a gold-plated model of a jet fighter and a presidential aircraft worth an estimated $400 million. When Friedrich Merz, the German chancellor, steps into the Oval Office on Thursday, though, he does so with the unusual advantage of bringing more or less precisely the thing Trump has asked for. Barely five months ago Trump's demands that his European Nato allies stump up 5 per cent of their GDP for defence were regarded by most national capitals as outlandish, at or beyond the worst end of their expectations. Yet now the yardstick is rapidly becoming a matter of orthodoxy in the alliance, and no member state has moved so far towards it in such a short span of time as Merz's Germany. • Read the full story here Speaking to German journalists before his meeting with Trump, the chancellor said he wanted to strengthen Berlin's relations with the White House. 'I am looking forward to the visit,' Merz said. 'We are well-prepared. Nato will be a major topic, as will trade and Ukraine. When we talk about German domestic politics [the right-wing AFD], I will use clear words. 'The chancellery will intensify bilateral talks.' Germany's spy agency, the BfV, has classified the Alternative for Germany party, of AfD, as a far-right extremist group, saying that the party has on several occasions attempted to 'undermine the free, democratic' order. Senior members of the Trump administration, including vice-president, JD Vance, have criticised the move, arguing that it undermines freedom of speech. The US has been engaged in a tariff tit-for-tat with the European Union since Trump's second term began in January. Trump has accused the EU of treating its largest trading partner 'very badly' and claimed that the bloc was created for the sole purpose of taking advantage of the US. The two sides began talks on a trade deal in April after Trump paused his so-called reciprocal tariffs. The US president then threatened to levy a 50 per cent tariff on European goods, saying the bloc wasn't moving fast enough towards a deal. Trump later delayed the tariffs until July 9. As talks appeared to be getting back on track, Trump said last week that he would double tariffs on steel and aluminium, including from Europe, to 50 per cent. An EU spokesman said the move added further uncertainty to the global economy and increased costs for consumers and businesses on both sides of the Atlantic. Merz's government is intensifying a drive that began under his predecessor Olaf Scholz to bolster the German armed forces and counter the looming Russian threat. In Trump's first term, he frequently singled out Germany for failing to meet the current Nato target of spending 2 per cent of gross domestic product on defence. The White House is now demanding at least 5 per cent from its allies. Scholz set up a €100 billion ($115 billion) special fund to modernise Germany's military after years of neglect. Merz has endorsed a plan for all Nato countries to aim to spend 3.5 per cent of GDP on defence by 2032. Merz will be hoping to avoid the kind of Oval Office showdown that President Zelensky of Ukraine and President Ramaphosa of South Africa experienced in recent months. Asked about the risk of a White House blow-up, Stefan Kornelius, a spokesman for Merz, said the chancellor was 'well-prepared' for the meeting and that he and Trump have 'built up a decent relationship'. The two leaders have spoken several times by phone either bilaterally or with other European leaders since Merz took office on May 6.
Powys County Times
27 minutes ago
- Powys County Times
New pension changes for 20m people in Pension Schemes Bill
Pension changes introduced today could make managing accounts easier for millions of workers planning their retirement across the UK. The Government's new Pension Schemes Bill is designed to support working people plan for their retirement by making pensions simpler to understand, easier to manage, and drive better value over the long term. Keeping track of pensions is notoriously challenging, with the average worker accumulating 11 different pension pots over their lifetime. This has resulted in £26.6 billion in lost pensions across the UK, according to the Pensions Policy Institute and the Association of British Insurers. One of its biggest benefits is the merging of small pension pots. The bill also introduces a new system to show how well pension schemes are performing, this will help savers understand whether their scheme is giving them good value and protect them from getting stuck in underperforming schemes for years on end, to help working people feel more secure about their retirement savings. For those approaching retirement, the changes will mean clear default options for turning savings into a retirement income. This means people will have clearer, more secure routes to decide how they use their pension money over time. The full changes are listed in detail here. Work and Pensions Secretary Liz Kendall says: "Hardworking people across the UK deserve their pensions to work as hard for them as they have worked to save, and our reforms will deliver a huge boost to future generations of pensioners." Chancellor of the Exchequer Rachel Reeves describes the bill as "a game changer", giving "bigger pension pots for savers and driving £50 billion of investment directly into the UK economy– putting more money into people's pockets." Government launches plans to automatically combine small pension pots, here's what it's likely to mean for you... — Martin Lewis (@MartinSLewis) April 24, 2025 What do these pension changes mean for workers? The bill will transform the £2 trillion pensions landscape to ensure savers get good returns for each pound they save, and drive investment into the economy, through a suite of measures, including: Requiring DC schemes to prove they are value for money, to protect savers from getting stuck in underperforming schemes. Simplifying retirement choices, with all pension schemes offering default routes to an income in retirement. Bringing together small pension pots worth £1,000 or less into one pension scheme that is certified as delivering good value to savers, making pension saving less hassle and more rewarding. New rules creating multi-employer DC scheme 'megafunds' of at least £25 billion, so that bigger and better pension schemes can drive down costs and invest in a wider range of assets. Consolidating and professionalising the Local Government Pension Scheme (LGPS), with assets held in six pools that can invest in local areas infrastructure, housing and clean energy. Increased flexibility for Defined Benefit (DB) pension schemes to safely release surplus worth collectively £160 billion, to support employers' investment plans and to benefit scheme members. What is the difference between a Defined Benefit (DB) scheme and a Defined Contribution (DC) pension? There are two different ways pension schemes work. With a Defined Benefit (DB) pension scheme, also referred to as final salary pension schemes, the amount you get is usually based on your salary and how long you've been part of the pension scheme. For a Defined Contribution (DC) pension, the figure you get is based on how much you and your employer invest in the pension and how your investments perform. Recommended reading: What's the expert view on the new pension changes? Nausicaa Delfas, chief executive of The Pensions Regulator (TPR) says: "The Pension Schemes Bill is a once in a generation opportunity to address unfinished business in the UK pension system. "Making sure all schemes are focused on delivering value for money, helping to stop small, and often forgotten pension pots forming, and guiding savers towards the right retirement products for them, will mean savers benefit from a system fit for the future. "We have long advocated for fewer, larger well-run schemes with the size and skill to deliver better outcomes for savers. As such we are also pleased to see the proposed legislative framework for DB superfunds, providing options and choice in defined benefit consolidation." Andy Briggs, CEO, Phoenix Group says: "The bill sets a clear direction for the future of pensions with the emphasis on building scale and ensuring savers receive value for money. "People across the country will feel the impact of these changes with plans to consolidate small pots, ensure the dashboard delivers and provide default retirement income options at the point of retirement. Patrick Heath-Lay, Chief Executive, People's Partnership adds: "This is a pivotal moment in pension reform. The bill contains many measures that will require providers to deliver better outcomes for savers and improve the workplace pension system."
