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The UK government is considering hitting Totemic American products with tariffs if the UK fails to obtain steel and aluminum sculptures from 25% US tariffs.
Business and Trade Secretary Jonathan Reynolds said on Sunday that if US President Donald Trump imposes heavy import taxes on UK steel and aluminum, British tariffs will be sought on US products such as whiskey, jeans and motorbikes. He said it could be returned.
Previous target tariffs on US-made products were suspended in March 2022 under a deal agreed by the Biden administration by a conservative government.
Reynolds said that if Trump reimposes US tariffs, the deal would “fall” and told the BBC “we’d go back to that position.”
He insisted that no decision was made and did not believe this would happen. He expected an exemption from the export of British steel and aluminum. “I think there’s a foundation for constructive engagement,” he said.
Reynolds said the United States, imported from the UK, is “highly specialized” (for example, steel made in Sheffield and used by the US Navy to casing submarines), and there are no alternative suppliers.
Business Secretary Douglas Alexander said that UK steel exports to the US are worth around £400 million and tariffs will be a “significant blow,” but Downing Street is about five UK steel exports. I realize that there are only %. .
The pastor is eager to avoid escalating a trade dispute with Washington, and is trying to minimize tensions before Prime Minister Kiel starmer visits the White House later this month.
The priorities not only will UK steel and aluminum be exempt from tariffs, but they will also try to persuade Trump to avoid the application of widespread trade sanctions in the UK.
Reynolds rejected Trump’s claim that Value Added Tax (UK sales tax) is a tariff. “I didn’t consider VAT to be a tariff,” he said, adding that the US also has a sales tax.
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Reynolds’ comments have filed consultations aimed at ensuring the long-term future of the UK steel industry, examining issues such as high electricity costs, unfair trading practices and scrap metal recycling .
The Workers Manifesto has pledged the government to acquire up to £2.5 billion to support the steel industry through the National Asset Fund.
Reynolds said the money will be spent on initiatives such as electric reactors that will give the industry a long-term future. Consultations continue about the future of Scunthorpe’s British Steel Plant.
Reynolds said that the “steel plan” consultations will make the sector internationally competitive to “examine the electricity costs of steel companies” and encourage the use of domestically produced steel in projects such as the postponed expansion of Heathrow Airport. I stated.
