The UK steel industry body has said it is “disappointing” that exports of the metal will be hit with 25% tariffs.
UK Steel, however, did welcome the certainty and competitive nature of the agreed 25% tax on exports of steel entering the US.
“It will be disappointing if we do not have the tariff-free quota level, but if the US was never offering that deal, then the final decision on 25% offers a degree of certainty and potentially a competitive advantage so long as other countries remain at 50%,” said the director general of UK Steel, Gareth Stace.
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It comes after the UK missed the White House-imposed deadline to agree a trade deal on steel and aluminium in July.
While a trade deal was signed in June, it did not include metals and left steel and aluminium to fall under blanket Trump administration rules.
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There were hopes a zero-tariff agreement could have been reached as President Trump comes to Britain to visit the King but instead the UK managed to avoid the 50% tariff applied to other states.
Those hopes remain, based on comments from Mr Trump before he boarded his plane to Britain.
“We’ve made a deal, and it’s a great deal, and I’m into helping them,” Mr Trump said, referring to the UK government.
“They’d like to see if they could get a little bit better deal. So, we’ll talk to them.”
Exports to the US make up 6% of all UK steel exports by volume and 9% by value.
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“The reality is that the deluge of heavily subsidised steel flooding into international markets is forcing countries across the world to erect trade barriers to protect their industries,” UK Steel’s Mr Stace said.
“It is even more imperative now that the UK government beefs up its own trade defences to ensure UK steelmakers have a sustainable share of their own market. In these market conditions, the last country to protect their industry will be the first to lose it.”
