UK’s Prime Minister finally responds to Donald Trump’s new tariff announcement
Sir Keir Starmer has responded after Donald Trump hit steel and aluminum imports with 25 percent tariffs.
Jobs could be at risk in the beleaguered British steel industry after the UK failed to secure an exemption to the US president’s global tariffs on the metal imports.
The European Union responded by announcing trade counter-measures, hitting American goods with retaliatory tariffs, but the UK Prime Minister resisted calls for the country to immediately hit back.
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At Prime Minister’s Questions, Sir Keir said: “I’m disappointed to see global tariffs in relation to steel and aluminum.
“We will take a pragmatic approach.”
"[The UK is] negotiating an economic deal which covers and will include tariffs if we succeed,” he told MPs.
“But we will keep all options on the table.”
The tariffs have been introduced on UK exports into the US today (March 12).
The tax hike raises a flat duty to the metals entering the States to 25 percent, effectively ending all country exemptions to the levies overnight.
The UK's trade minister, Jonathan Reynolds, said he was disappointed by the move.
“It's against the spirit of our two nations' enduring friendship and fundamentally at odds with the benefits that our economic partnership has delivered over more than 70 years,” he added.
The European Union further said it would impose retaliatory duties on €26 billion ($28.3 billion) of US goods in response.
But the POTUS said he hopes the hikes will provide a well-needed boost to steel and aluminum produced on US soil.
Canada is particularly disgruntled by the measures as Trump threatened to double the tariffs to 50 percent on the country's steel and metal imports.
As well as the US' northern neighbor, the new 25 percent tariffs on steel and aluminum will come as devastating news to Mexico and Brazil, with the three countries standing as the largest supplies of the metals to the States.
Meanwhile Australian Prime Minister Anthony Albanese said the decision is 'entirely unjustified'.
The American Iron and Steel Institute (AISI), representing US steelmakers, has celebrated the plan and claims it will create jobs and boost steel manufacturing across the country.
AISI president Kevin Dempsey said: “AISI applauds the president's actions to restore the integrity of the tariffs on steel and implement a robust and reinvigorated program to address unfair trade practices.”
However, critics claim the hikes could have a domino-effect on prices for US consumers and potentially jeopardise economic growth, particularly in industries like aerospace, car manufacturing and construction.
Topics: US News, UK News, Politics, Donald Trump
Joe Yates