A proposed deal to eliminate tariffs on UK steel exports to the US has been put on hold indefinitely, the BBC understands.Tariffs of 25% are currently applied to steel exports to the US, which make up 6% of all UK steel exports by volume and 9% by value.Other countries face tariffs of 50% and so senior government sources insist that the UK is in a competitive position relative to others.This comes as President Donald Trump hailed the “great honour” of being hosted by King Charles at “the ultimate” Windsor Castle for his second state visit, and hinted at possible tariff relief for UK steel.The UK and US signed a trade deal in June that reduced tariffs on car and aerospace imports to the US, but failed to agree on terms for British steel, leaving tariffs on it at 25%.Speaking to reporters as he boarded Air Force One, Trump said he is “into helping” Britain on fine-tuning the UK-US trade deal.”They want to see if they can refine the trade deal a little bit,” he said”We’ve made a deal, and it’s a great deal, and I’m into helping them.”They’d like to see if they could get a little bit better deal. So, we’ll talk to them.”His comments will be welcomed by Peter Kyle, the new business secretary, who said that tariff relief for British steel is be …
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[mwai_chat context=”Let’s have a discussion about this article:nnA proposed deal to eliminate tariffs on UK steel exports to the US has been put on hold indefinitely, the BBC understands.Tariffs of 25% are currently applied to steel exports to the US, which make up 6% of all UK steel exports by volume and 9% by value.Other countries face tariffs of 50% and so senior government sources insist that the UK is in a competitive position relative to others.This comes as President Donald Trump hailed the “great honour” of being hosted by King Charles at “the ultimate” Windsor Castle for his second state visit, and hinted at possible tariff relief for UK steel.The UK and US signed a trade deal in June that reduced tariffs on car and aerospace imports to the US, but failed to agree on terms for British steel, leaving tariffs on it at 25%.Speaking to reporters as he boarded Air Force One, Trump said he is “into helping” Britain on fine-tuning the UK-US trade deal.”They want to see if they can refine the trade deal a little bit,” he said”We’ve made a deal, and it’s a great deal, and I’m into helping them.”They’d like to see if they could get a little bit better deal. So, we’ll talk to them.”His comments will be welcomed by Peter Kyle, the new business secretary, who said that tariff relief for British steel is be …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
