UK will not immediately respond to Donald Trump's metal tariffs
Published On Feb 11, 2025, 6:24 AM
The UK has decided not to retaliate immediately against the US's renewed steel and aluminium tariffs. These tariffs, set to take effect on March 12, impose a 25% tax on imports of these metals into the US. UK government officials believe that maintaining a calm approach is essential to avoid escalating trade tensions and that it may not be beneficial for the UK steel industry to impose retaliatory tariffs. The UK government plans to meet with industry representatives and unions to discuss the situation further.
Stock Forecasts
NUE
Positive
The UK government is adopting a cautious approach towards the US tariffs, which may help avoid further trade disruptions. However, the UK steel industry could face increased pressure as imports become more expensive. This situation might benefit domestic steel producers if they can compete effectively.
Related News
Stock futures inch lower as investors look ahead to key inflation readings due this week: Live updates
Feb 10, 2025, 6:02 PM
The three major averages ended the session in positive territory on Monday, with Big Tech names rising.
Trump Sets 25% Tariffs on Steel, Aluminum as Trade War Widens
Feb 10, 2025, 8:55 PM
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe Forgotten French Architect Who Rebuilt MarseilleIn New Orleans, an Aging Dome Tries to Stay SuperHow London’s Taxi Drivers Navigate the City Without GPSPresident Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts
Stock market today: Dow, S&P 500, Nasdaq set to bounce back as Trump tariff move buoys steelmakers
Feb 10, 2025, 7:51 AM
Investors are weighing Trump's pledge on Sunday to introduce additional 25% tariffs on steel and aluminum from all countries.