President Trump’s 50% tariffs on steel and aluminum take effect Wednesday, with tariffs on imports from the United Kingdom remaining at 25%.
On Tuesday, Trump signed the order doubling the tariffs from 25% to 50% on all metals imports to the U.S., CNBC reported.
The biggest exporters of steel to the U.S. are Canada and Mexico, with Brazil and South Korea being other major sources.
The UK, which sends 7% of its total steel exports to the U.S. that is worth $500 million, is keeping the 25% tariff as a U.S.-UK trade deal is being worked out.
Ultimately, as part of the deal, the 25% tariff will be removed. However, if the White House “determines that the United Kingdom has not complied with relevant aspects of the [Economic Prosperity Deal],” then it could increase the tariff on the UK to 50% “on or after July 9,” according to the White House.
UK Steel Director-General Gareth Stace said Tuesday that the country’s exemption from the 50% tariff was “a welcome pause,” but urged the U.S.-UK deal to be finalized to completely remove the tariffs.
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Author: Faith Novak
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