Investing.com -- The UK steel industry has called on the government to complete a deal on US tariffs as negotiations approach President Donald Trump’s latest deadline for potentially higher levies.
Britain’s struggling steel sector currently faces 25% tariffs imposed by the US and wants to avoid the threat of these doubling. Trump issued a presidential decree last month stating that, on or after Wednesday, he could increase the tariff to 50% if the UK had "not complied with relevant aspects" of the economic prosperity deal signed in May.
While there is no immediate indication the US will implement the threatened increase as Prime Minister Keir Starmer continues discussions with Trump, the industry fears being effectively blocked from its second-largest export market.
"The deal struck between the Prime Minister and President Trump two months ago is still hanging in the balance," UK Steel Director General Gareth Stace said. "The UK steel industry urgently needs confirmation from the US administration that our tariff rate will remain at 25% while the final details of the deal are resolved."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.