Community and UK Steel issued a joint press release on President Trump’s signing of the Presidential Proclamation on steel and aluminium tariffs. Regrettably, the announcement confirms fears that the default position is for tariffs to apply across the board outside of NAFTA. Such tariffs would have a profound and detrimental impact on the UK steel sector, which exported some 350,000 tonnes of products to the US in 2017, over 7% of its total exports.
The UK sector is in the midst of a fragile recovery following years of considerable turmoil, it would be utterly devastating if this were to be undermined.
UK Steel also produced a factsheet that outlines the scope of Section 232 tariffs, the likely impact in the UK and EU, the EU and steel sector reaction, and the need for positive action on global over-capacity from governments via the G20 Global Forum on Steel Excess Capacity.