Trade Secretary to meet US counterpart in bid to secure steel tariff exemption
The meeting will come after Mr Trump said he was doubling tariffs on imports of steel from 25% to 50%.
The UK struck a deal with Washington for import taxes on its steel to be removed weeks ago, but its implementation has not been finalised.
Trade officials and negotiators are planning to speak to the US as soon as they can to understand the implications of Mr Trump's latest steel tariffs.
They want to secure a timeline for the UK-US deal to be implemented as quickly as possible in the coming weeks.
Jonathan Reynolds will meet US trade representative Jamieson Greer to discuss timings for the deal to be in place when both attend the OECD (Organisation for Economic Co-operation and Development) meeting in Paris next week.
Earlier this week, a federal court blocked many of the sweeping Trump tariffs imposed on imports from countries around the world, but left some in place, including those on foreign steel and aluminium.
On Thursday, a federal appeals court said it was allowing Mr Trump to continue collecting import taxes for now.
On Friday, Mr Trump announced he would double the tariff rate on steel to 50%, starting on June 4.
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.
'We are engaging with the US on the implications of the latest tariff announcement and to provide clarity for industry.'
The agreement, known as the economic prosperity deal, is expected to be presented to Parliament before it comes into force.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scotsman
39 minutes ago
- Scotsman
Edinburgh roads: Miles Briggs launches campaign for Scottish Government to prioritise Sheriffhall upgrade
A Lothian MSP today launched a campaign calling on the Scottish Government to prioritise the upgrade of the most notorious junction on the Edinburgh City Bypass. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Tory MIles Briggs said motorists had been subjected to "countless hours of unnecessary congestion" at the Sheriffhall roundabout because of the long delay in starting work on the proposed flyover. He said: "It's ridiculous that after nearly 20 years of discussion and more than £6m in consultation, Sheriffhall continues to bring the Edinburgh Bypass to a standstill every rush-hour. An artist's impression of the proposed Sheriffhall roundabout flyover. | Contributed Advertisement Hide Ad Advertisement Hide Ad 'From day one it was clear that the roundabout needed a fly-over; 40 years later we have a significantly larger population across the region but have seen no progress whatsoever to improve the roundabout." Funding for he junction revamp was included in the Edinburgh and South East Scotland City Regional Deal announced in July 2017. But the £120 million price tag attached to it at that time is certain to have increased dramatically. Ground Investigations were carried out in 2018 and draft road orders were published in 2019. But in 2020 the plans were put on hold to allow a review of the project as part of a Scottish Government budget deal with the Greens. Advertisement Hide Ad Advertisement Hide Ad A public local inquiry was eventually held in early 2023 and the report, delivered to the Scottish Government in early 2024, is still under consideration by ministers over a year later. In a Scottish Parliament debate in 2018, Mr Briggs highlighted the economic value of the City Bypass and warning that gridlocked traffic was putting off potential investors to the area. He cited a report by Inrix which identified the bypass as the most congested trunk road outside London and predicted that the cost of bypass congestion to the economy could reach £2.8 billion by 2025. Now Mr Briggs has launched an online campaign, which will encourage the public to make their voice heard and put pressure on the government to provide a renewed commitment to this project. He said more than 75,000 vehicles used the bypass every day already, but that was set to increase since Lothian has the fastest growing population in Scotland and is forecast to account for 84 per cent of Scotland's predicted population growth over the period to 2033. Advertisement Hide Ad Advertisement Hide Ad He said: 'Sheriffhall is costing commuters and businesses in our region time, money, and pollution from congestion. 'However, due to Green party opposition and SNP complacency, proposals have been left to gather dust while costs increase. 'It is time for SNP ministers to act and provide the leadership needed to get the upgrade back on track. 'That is why I have launched my campaign to upgrade this notorious junction, asking residents across Lothian to make their voice heard. Advertisement Hide Ad Advertisement Hide Ad 'Edinburgh and the Lothians deserve better than this and I hope my campaign to upgrade the junction will make SNP ministers understand the level of frustration motorists are facing and give the upgrade the priority it deserves.'
Rhyl Journal
an hour ago
- Rhyl Journal
Calls to legally require supermarkets to reveal ‘shrinkflation' to customers
The Liberal Democrats want government legislation amended to legally require large supermarkets to inform shoppers when the quantity of goods within a pre-packaged product has decreased thereby increasing the price per unit of measurement. Details of the changes would need to be attached or placed alongside the product for a 60-day period, according to the amendment tabled to the Product Regulation and Metrology Bill. Digestive biscuits, butter, crisps and chocolate bars were among the items found to have decreased in size while their unit cost increased, according to 2024 research by Compare the Market. MPs could be asked to vote on the Lib Dem proposal on Wednesday when the Bill returns to the Commons for its report stage. Lib Dem trade spokesman Clive Jones said: 'The scourge of shrinkflation needs to be exposed. 'Shoppers have been hammered during a cost-of-living crisis all while massive companies and big supermarket chains are forcing them to pay more for less to protect their bottom lines. 'They need to be called out on it and for shoppers to know when they are at risk of being ripped off. 'The Government should accept this Liberal Democrat amendment so that we can help protect shoppers and their already stretched household budgets from another round of shrinkflation.' The Bill as a whole gives powers to ministers to regulate the marketing and use of goods in the UK after Brexit. It was previously amended in the House of Lords to provide protections to the imperial pint measure to ease fears over its future. The changes accepted by the Government would bar ministers from preventing or restricting the use of the pint in relation to draught beer, cider or milk in returnable containers. It also provides a definition of a pint as 0.56826125 cubic decimetres. A Department for Business and Trade spokesman said: 'We're committed to protecting consumers from unfair commercial practices and making sure they have all the information they need to make informed decisions on purchases. 'That's why we're bringing in strict new laws next year to make sure businesses use clearer labelling for prices on supermarket shelves, and retailers show all unit prices in either kilograms or litres to improve clarity for shoppers.'
The Herald Scotland
an hour ago
- The Herald Scotland
Shoppers may feel more upbeat, but spending is still shy
Inflation has fallen markedly since those heady inflationary days in late 2022. Real wages have been growing for the past two years, whilst prices on shop shelves have actually being falling since August. Read more: Yet households continue to spend selectively - cutting back on non-essential items, trading down to cheaper products, with those who can afford to putting more into savings. Where consumers have opened their purses and wallets it's often been on experiences rather than in shops, such as on eating out or holidays. Better news for retailers came in our latest Consumer Sentiment Monitor which showed shoppers' confidence nudging up over recent months in tandem with the general pick-up in the UK economy, and as some of the US-China trade tensions began to cool. However, despite the welcome prospect of a possible détente in the global tariffs dispute domestic consumer confidence – and people's propensity to spend – remains below levels seen last year. The uptick can be seen in our retail sales data. Bolstered by the timing of Easter and better weather, retail sales in Scotland last month recorded their best performance in almost two years, positive news after a lengthy period of decidedly tepid sales growth. However, whether this better news will be short-lived or sustained remains to be seen. A key concern is overall inflation, at least in the near-term. Last month it rose to 3.5%, its highest level in a year and the jury's out on whether rising inflation has crested. If it sticks at about this level then it will reduce shoppers' spending power. Read more: Unfortunately, it is little surprise that inflation is once again rearing its head. After all, retailers and their suppliers have been thwacked by enormous hikes in employers' national insurance contributions and the national living wage. This will cost UK retailers alone £5 billion this year. On top of that a further £2bn of additional outlays is expected later this year as retailers implement the new extended producer responsibility packaging tax. The sheer weight of costs bearing down on the sector and its supply chain is proving impossible to fully absorb. With statutory costs continuing to rise for retailers, households may well have to brace for stickier elevated levels of inflation. Food prices in shops have risen to their highest level in twelve months, and are forecast to reach 5% towards the end of the year. Higher inflation isn't the only strain facing household finances. Wage rises too are likely to be tempered by the substantial additional costs employers face. Meanwhile, council taxes across Scotland leapt by 9.6% on average this April, taking a £280 million bite out of disposable incomes. Water and sewerage bills were hiked by 9.9%. Read more: There are other risks on the horizon. Scottish Ministers are exploring with councils the creation of more revenue generating powers, as well as wealth taxes. Presumably this would be on top of councils' existing ability to introduce workplace parking levies. Some councils are reportedly looking at congestion charging, whilst UK Ministers are said to be debating what tax increases could be implemented in this autumn's Budget. That said, governments have acted to help reduce the pressure on consumers. Recent trade deals with the EU and others should assist, as will Holyrood's decisions to abolish peak rail fares and pause plans for a levy on disposable cups. Scottish Ministers have pledged no further rises in income tax rates before next year's election, and no more divergence from tax rates applicable elsewhere in the UK. There is no route back to economic growth without getting inflation under control. Supporting retailers to keep prices down has to be a priority. David Lonsdale is the director of the Scottish Retail Consortium.
