British steelmakers are racing to reconfirm orders with US customers at a 25 per cent tariff rate, as they warned of huge uncertainty for the industry despite being spared President Donald Trump’s doubling of import tariffs to 50 per cent.
Industry executives on Wednesday urged the government to finalise details of the UK’s trade deal with the US, and said many had deferred or cancelled shipments over concerns that they might have to pay the higher levy.
A warning from Trump that the US might yet increase its tariffs on the UK “on or after 9 July” unless the UK concludes the trade deal on terms acceptable to Washington has only added urgency to the situation.
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