Still shackled by tariffs: Why the UK missed the steel and aluminium deal deadline with the US
In a blow to Britain’s steel and aluminium exporters, the UK has officially missed the July 9 deadline to strike a deal with the United States over the continuation of punitive tariffs first imposed by the Trump administration in 2018. The breakdown in talks risks prolonging a trade dispute that many hoped would be resolved by now, leaving British metal producers disadvantaged and frustrated.
At the heart of the issue is a failure to agree on mutually acceptable terms for a deal akin to the ones the US struck with the EU, Japan, and other allies. While those nations secured tariff rate quotas (TRQs) that partially restored access to the American market, the UK remains stuck with Section 232 tariffs — 25 per cent on steel and 10 per cent on aluminium. These measures, justified on the grounds of national security during the Trump era, have since become widely recognised as economic weapons aimed at protecting American producers.
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The signal of tariff implementation strengthens, and aluminium prices are likely to fluctuate at highs amid low inventory
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