Commenting on the International Trade Secretary’s statement in the House of Commons yesterday, UK Steel Director, Gareth Stace said:

“Last Thursday’s announcement from the US was expected, but a hammer blow nonetheless. UK steel producers exporting to the US now face a 25% tax disadvantage that we know will significantly undermine their ability to export to the US and undermine our sector’s nascent recovery. This cannot stand.”

“Secretary of State, Dr Liam Fox, has today shown that he stands with the UK steel sector in condemning the ‘unjustified’ US steel tariffs, supporting a strong and swift EU response, and using our close relationship with the US to exert influence where possible.

“The top priority for UK Government must be to continue to support the European Commission to secure a complete and permanent exemption for the EU from these absurd tariffs. Whilst tariffs have come into force, this is far from an end to the conversation.

“Secondly, with Trump closing off US markets to steel from round the World, the EU must ensure we are not now overwhelmed with boats lining up to offload steel at British ports. We have already seen EU steel imports increase by 8.4% in the first quarter of the year, there is no time to lose. Robust safeguard measures must be introduced now to maintain market stability and a fair and level playing field for EU steel producers. 

“Thirdly, the EU has rightly lodged a formal complaint with the World Trade Organisation (WTO) to challenge these tariffs and the UK Government must further support this complaint by offering any assistance required to ensure a swift conclusion to the investigation.

“Finally, steel companies will be grateful to the UK Government for providing assistance to UK companies seeking to attain product exemptions from tariffs and for helping to have such applications expedited by the US Department of Commerce. 

“The Secretary of State has shown that the UK Government can both highlight to the Trump Administration that its actions are not the solution to what is a global problem but also continue to work constructively with it and show that we are a close friend, not an enemy. We dearly hope that this experience does not foreshadow post-Brexit trading for British Companies, with the UK isolated and battling over trade issues on different fronts, without the heft of the EU behind us. The prospects are undoubtedly a cause for concern.”