European Commission says it will impose counter-tariffs on US goods from April
The UK is reserves its right to retaliate but will adopt a “pragmatic” approach in response to global tariffs imposed by the US, a Treasury minister said.
James Murray, exchequer secretary to the Treasury, said:
We’re not going to retaliate immediately in that way.
We reserve our right to retaliate, but we’re very clear that we want a pragmatic approach, working closely and productively with the US.
Today’s imposition of tariffs on UK steel from the US administration is hugely disappointing. President Trump must surely recognise that the UK is an ally, not a foe. Our steel sector is not a threat to the US, but a partner to key customers, sharing the same values and objectives in addressing global overcapacity and tackling unfair trade.
These tariffs couldn’t come at a worse time for the UK steel industry, as we battle with high energy costs and subdued demand at home, against an oversupplied and increasingly protectionist global landscape. What’s more, the EU is also pushing ahead with trade restrictive action that will amplify the impact of US tariffs.
