Trump’s 25% tariffs in steel and aluminum come into force globally as Europe says it will take revenge – Live business | Trump’s fees

The United Kingdom reserves its right to avenge, but will adopt a “pragmatic” approach in response to global tariffs set by the US, said a treasure minister, echoing comments (verbatim) made by the UK Secretary of Trade and Business, Jonathan Reynolds.

James MurrayThe secretary of the treasury said:

We will not retaliate immediately that way.

He said the tariffs were “disappointing”, but “we want to take a pragmatic approach, and we are already negotiating rapidly towards an economic agreement with the US, with the potential to eliminate additional tariffs.”

Asked if the imposition of revenge tariffs would remain on the table, Murray Times Radio said:

We reserve our right to avenge, but we are very clear that we want a pragmatic approach, working closely and productively with the SH.BA

Tariffs will have “extremely harmful consequences for suppliers in the UK and their clients in the US,” UK industry group warns Steel. They will also have a further harmful indirect effect of deviation of steel trade from the US in markets like the UK. Further reciprocal tariffs are expected to be announced by the US on April 2.

The US is the second most important UK export market for steel behind the EU, especially as it is a high value market, explains the United Kingdom Steel. US exports make up 9% of UK steel exports by value and 7% by volume. This is mainly specialized steel that goes to areas such as protection, oil and gas, construction equipment and packaging.

This comes at a time of global overload and excess supply, high energy costs and poor demand, making the shock for exports to the “increasingly harmful” Kingdom.

Director General of Stelellik in the UK, Gareth Stacesaid:

Today’s imposition of fees in the UK by the US administration is extremely disappointing. President Trump must surely acknowledge that the United Kingdom is an ally, not an enemy. Our steel sector is not a threat to the US, but a partner to the main customers, sharing the same values ​​and objectives in addressing global overload and the treatment of unfair trade.

These tariffs cannot come at a worse time for the UK steel industry, as we fight with high energy costs and the demand under home, against an excessive and increasingly protectionist global landscape. Moreover, the EU is also moving forward with restrictive trade actions that will strengthen the impact of US tariffs.

It is essential for the United Kingdom Government not only to continue efforts to negotiate exceptions with the US, but also to take crucial actions to strengthen our commercial protection. We greatly appreciate all the efforts that have been made so far and we will continue to work closely with our government to ensure the best possible result.

The United Kingdom is only partially protected by the deviation of trade. Steel protection quotas are liberalized annually and are now 22% larger than when they were first introduced in 2018. At the same time, the UK claim has contracted 16%. These quotas are redundant and do not provide appropriate protection against large -scale trade deviation that is likely to happen, says the United Kingdom.

These measures will pass in June 2026. It is essential for existing measures to be strengthened, as the EU is doing its measures, and to establish concrete plans to replace safeguards, ideally far before their expiration. There is a large amount of robe around the EU steel, including its plan of action of steel and metals that will appear on March 19. This will further increase pressure on both the direct exports of the United Kingdom and in our commercial protection.

Julia Kolewe in London has taken over.

The European Commission said steel and aluminum products would be hit with return fees, But also textiles, leather goods, household appliances, plastic indoor tools and wood. Agricultural products will also be affected – including birds, beef, some seafood, nuts, eggs, sugar and vegetables.

The president of the commission Ursula von der Leyen said:

We will always remain open to negotiations. We firmly believe that in a world filled with geopolitical and economic uncertainty, it is not in our common interest to charge our economies with tariffs.

Donald Trump He said his taxes will help create work in the American factory, but von der Leyen warned:

Jobs are in danger. Prices will rise. In Europe and in the United States.

We repent deeply for this measure. Fees are taxes. They are bad for business, and even worse for consumers. These fees are breaking the supply chains. They bring uncertainty to the economy.

The Prime Minister of the United Kingdom, Keir starmerHe said yesterday that Britain would not hit with its anti-leaders, following the latest gap attempts to persuade Trump to save the British industry from its global tariffs seemed to have failed.

Read the full story below:

Here is a reaction from the United Kingdom with the British Trade and Business Secretary Jonathan Reynolds Saying Wednesday that he was disappointed by the SH.BA imposed fees on steel and aluminum.

Reynolds said:

I will continue to be closely and productively engaged with the US to suppress the issue of business interests in the UK.

We are focused on a pragmatic approach and we are rapidly negotiating a wider economic agreement with the US to eliminate additional tariffs and benefit businesses in the United Kingdom and our economy.

I will continue to be closely and productively engaged with the US to suppress the issue of business interests in the UK. We will keep all the options on the table and we will not hesitate to respond to the national interest.

He added that the government remains “determined” in its support for the UK industry.

This government is working with companies affected today, and I turn the industry application to the Commercial Authority to investigate which further steps may be needed to protect the United Kingdom producers.

Ed Husic, the Minister of Industry and Science of Australia, spoke to ABC TV on Wednesday and was asked if he considered tariffs as a way to treat a good friend and ally.

Husic replied:

Let’s call a shovel a shovel. I think this is a dog act after more than a century of friendship.

The Australians have stood by and stayed with the Americans for many decades. In fact, Australians have shed blood along with Americans in various conflicts. We have stayed together not only from a national security perspective, but also from a perspective of economic security, trying to improve trade relations between countries because it is good for economies and workers when done properly.

What we have seen here, what was it for?

The European Commission said Wednesday that it would impose “countermeasures” starting April 1 In response to US 25% tariffs on steel and aluminum imports.

European Commission Chief Ursula von Der Leyen said in a statement that Brussels would be “the beginning of a series of countermeasures” in response to “unjustified trade restrictions”.

Greeting and welcome to our direct coverage of the global response to Donald Trump’s New fees. Global 25% tariffs in steel and aluminum came into force in the Midnight et “without exceptions or exceptions”.

The European Commission responded almost immediately, saying it would impose anti -26 billion ($ 28BN) tariffs worthy of US goods from next month.

“We deeply regret this measure,” Chief of the European Commission Ursula von der Leyen Said in a statement on US tariffs, after Brussels announced it would be “the beginning of a series of countermeas” in response to “unjustified trade restrictions”.

Australian Deputy Prime Minister Richard Marles He said Wednesday that the lack of exceptions was “really disappointing”, calling the tariffs “an action of the type of economic self-harm”. He told Radio Station 2GB: “We will be able to find other markets for our steel and our aluminum and we have been diversifying those markets.”

You can read the full story here and stay with us for all developments as they unfold.