UK's Response to Tariffs
Britain will keep "all options on the table" in response to Donald Trump imposing tariffs on steel and aluminium, according to Sir Keir Starmer. The Prime Minister expressed disappointment over the 25 per cent levy imposed by the US on these goods. However, the UK has not retaliated yet, as a trade agreement between the two countries is still being discussed.
Business Secretary's Stance
Business Secretary Jonathan Reynolds stated that the UK is currently resisting retaliation against the tariffs. He emphasized that all options are being considered and that actions will be taken in the national interest. Reynolds will be engaging with affected companies and working closely with the US to address the situation.
UK's Approach
Treasury Minister James Murray highlighted the importance of remaining "cool-headed" in dealing with the tariffs. The UK is negotiating towards an economic agreement with the US and aims to continue this work for the benefit of British businesses and the public. The UK has not followed the EU in imposing counter-tariffs worth £22 billion.
Global Trade War
President Trump's trade war strategy is aimed at protecting US manufacturing and creating job opportunities. The tariffs on steel and aluminium could impact the cost of various products, including cars. The tensions have escalated with threats of financial penalties and counter-tariffs between the US, Canada, and other countries.
EU's Response
Ursula von der Leyen, President of the European Commission, emphasized the EU's measures to protect consumers and businesses in response to the tariffs. The EU's actions are described as strong yet proportionate, reflecting the broader impact of global trade disputes.
