UK to seek exemption from US steel tariffs" width="976" height="549">
The UK will seek an exemption from President Donald Trump's tariffs on steel and aluminium imports to the US, according to Trade Secretary Liam Fox.Mr Fox says he will travel to Washington next week when he will discuss the new duties.He said: "We will, of course, be looking to see how we can maximise the UK's case for exemption under these particular circumstances."Steel imports will carry a 25% tariff while aluminium will have a 10% duty.President Trump claims that the US has suffered from "unfair trade" and that the tariffs will boost the domestic market.
Dr Fox said: "We understand the anxieties about steel over-production that the United States has but we believe there are other ways to tackle that on a multilateral basis."
US chided over hefty import tariffs
What impact will steel tariffs really haveHe added: "It worries me that I don't think the Trump administration has quantified what it can supply from its own market and what it can't. Therefore, it is actually shooting itself in the foot by increasing costs to the US steel sector and US manufacturing sector by 25%."Canada and Mexico will be exempt from the tariffs while negotiations continue over the North America Free Trade Agreement (Nafta).
Donald Trump
Liam Fox
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