UK Steel comments on US steel tariffs

In the statement, it was emphasized that the effects of the US imposing a 25% tariff on steel imports from the UK as of March 12 will be serious and that the removal of previous quota and exemption arrangements will put UK steel producers in a difficult situation. In particular, the competitiveness of companies exporting to the US market will be weakened, while the removal of special exemptions for steel products that are not produced in the US will create additional obstacles for exporters.

UK Steel emphasized that this decision will have a negative impact not only on the UK but also on other allies that have close trade relations with the US, pointing out that concerns about global overcapacity are understandable, but such general tariffs are not the solution to the problem. The UK government has called on the US government to engage diplomatically with the US to ensure that steel tariffs are reconsidered. It also stated that international trading partners should act together to tackle the problems of out-of-market overcapacity.

Gareth Stace, General Director, UK Steel, stated: "President Trump has delivered a sledgehammer blow to free trade, with huge consequences for the steel industry in the UK and around the world. Not only will this block UK exports to the US, but it will also have hugely disruptive effects on international trade flows, adding further import pressure on our own market. UK steel poses no threat to US national security. Our high quality products serve key US industries, many of which are unable to source them domestically. This is a moment when our countries should be working together to tackle global steel overproduction, not against each other. The UK agrees with the US on tackling global steel overcapacity and unfair trade, and our industry calls on the UK Government to take stronger action on these issues. This is clearly a new era for global trade. We are confident that the UK Government recognizes the impact on our industry and will explore all available options."

Alasdair McDiarmid, Community's Assistant General Secretary, emphasized: "Donald Trump's new tariff is a major concern and a regressive step for the steel industry and economies on both sides of the Atlantic. Comprehensive safeguards are now even more needed to protect our domestic steel from cheap foreign steel imports."