In response to Donald Trump's 25% tariffs on steel and aluminum imports to the US, the UK government is accelerating its £2.5bn investment in the domestic steel industry. Business Secretary Jonathan Reynolds emphasized the urgency of this move through the upcoming green paper, 'Plan for Steel'. The UK's steel trade with the US, which exports 209,000 tonnes annually, faces significant risks as UK officials seek resolutions to mitigate potential economic harm and discourage rising global protectionism.
The US is our second-largest export market after the EU, and this move threatens more than 400m of steel exports each year.
Reynolds mentioned in his statement that even before Trump's return to the White House, the government was determined to bolster the UK steel industry.
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