Trump spares UK 50% steel tariffs until July at least -

The UK’s steel and aluminium industry has been spared the immediate hit of Donald Trump’s 50 per cent today but looks to have just five weeks to finalise an exemption deal.

- TARA COBHAM

At the 11th hour, the US president decided to "provide different treatment" to the UK after last week announcing he would raise the tariffs from 25 per cent to “further secure” the industry in his country.

However, a much-lauded UK-US trade deal unveiled last month that should have exempted Britain from steel tariffs completely is still yet to be implemented – and it appears Mr Trump has set a deadline of next month for the deal to be finalised.

Levies will remain at 25 per cent for imports from the UK, according to a version of the US executive order that confirmed the worldwide tariff increase last night which also added that Britain could still be subject to the higher 50 per cent rate from 9 July.

The UK government said it was “pleased” the UK will not be subject to the additional tariffs, as it vowed to secure the removal of the 25 per cent levies.

Yesterday, business secretary Jonathan Reynolds met White House trade representative Jamieson Greer in Paris to discuss the UK-US trade deal.