Great news for all the players directly or indirectly involved with the United Kingdom's aluminium and steel industry. On May 8, 2025, both the United States and the United Kingdom announced a limited trade agreement, highlighting the tariffs imposed by US President Donald Trump in the beginning of 2025. This agreement is referred to as the "Economic Prosperity Deal" where the US has revoked the 25 per cent tariff imposed on importing aluminium and steel from the UK.
Image source: UK steel
The US has always recognised the security initiated by the UK in order to mitigate the global stress over the excess capacity and had proposed an alternative arrangement for the aluminium and steel. As a response the White House stated that they are ready to forge a deal that will create a new trading union for the metals.
The US have announced their agreement on revoking the 25 per cent tariffs on the UK aluminium and steel imports that was levied on March 12, 2025 and approached for an "alternative agreement". However, the 10 per cent reciprocal tariff that has been imposed on imported material is still in session. This indicates that all the scraps that US imports from the UK will still have to incur the duty.
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