Sir Keir Starmer will try to follow a 'cooling -headed approach' after last attempts to convince Donald Trump to save the British industry of his global rates.
The decision of the US president to impose global rates on steel and aluminum was labeled as 'disappointing' by business secretary Jonathan Reynolds, who insisted that 'all options' were on the table to respond to the national interest.
Great Britain has opposed the imposition of immediate retaliation measures against the relocation, while the European Union has already announced that it will introduce countermeasures to American goods.
The British industries are brace for the impact of the rates, which came into force around 4 hours and raise a flat service on steel and aluminum that enter America to 25%.
Jonathan Reynolds said: 'It is disappointing that today the US has imposed global rates on steel and aluminum.
'We are focused on a pragmatic approach and negotiate quickly about a broader economic agreement with the US to eliminate extra rates and to benefit British companies and our economy.
'In the meantime, we remain determined in our support for the British industry. Nowadays this government works together with affected companies and I am on the application of the industry at the trade remedial authority to investigate which further steps may be needed to protect British producers. '
'I will continue to take close and productive with the US to press the case for British business interests. We will keep all options on the table and will not hesitate to respond to the national interest, “he added.
British industries are brace for the impact of the rates, which came into force in the US at midnight (depicted: President Donald Trump meets British Prime Minister Keir Starmer in the White House on 27 February)
British industries are brace for the impact of the rates, which came into force around 4 o'clock, and a flat service on steel and aluminum that enters America to 25% (file image)
Brussels said that countermeasures for the rates, which would take around 26 billion euros (about £ 22 billion) of the EU exports, will be introduced in April to defend European interests. ”
Gareth Stace, the director-general of Trade Association UK Steel, burned the move of the Trump administration 'enormously disappointing'.
He added: “President Trump should certainly acknowledge that the UK is an ally, not an enemy. Our steel sector is not a threat to the US, but a partner for important customers who share the same values ​​and objectives in tackling global overcapacity and tackling unfair trade.
'These rates could not come to a worse moment for the British steel industry, because we fight with high energy costs and modest demand at home, against an oversupply and more and more protectionist worldwide landscape. What is more is also pushes the EU with trade -restricted action that will strengthen the impact of American rates. '
Mr Stace added: 'It is essential that the British government is not only efforts to negotiate exemptions with the US, but also takes decisive action to strengthen our trade defenses.
“We appreciate all the efforts that have been made to date and will continue to work closely with our government to ensure the best possible result.”
The organ of the aluminum industry had previously warned that the imminent import tax already had an effect.
Nadine Bloxsome, Chief Executive of the aluminum federation, said: 'The British aluminum sector already sees the first effects of these rates.
The government estimates about 5% of British steel exports and 6% of aluminum export per volume goes to the US (depicted: Tata Steel Plant in Port Talbot, South Wales)
'The sharp rise in American premiums has created new stimuli for exporting scrap, which increases the risk of considerable domestic scrap leakage. This not only weakens the recycling capacity of the UK, but the risks to undermine our sustainability objectives and goals for circular economy.
“Moreover, the uncertainty about potential trading deviation explains considerable pressure on British producers, especially because half -finished goods can flood the British market at lower costs.”
William Bain, head of trade policy for the British Chambers of Commerce (BCC), said that the decision both countries 'in a new era of uncertainty' dived.
But he warned of a series of 'Tit-for-Tat' rates that 'could easily go through in a total trade war'.
'We have to keep conversations alive and retaliation rates may only be used as a means of the last resort. If the conversations succeed, it would be a win-win, which results in a welcome stability and pro-growth economic conditions for both parties. '
The issue was discussed in a call between Sir Keir Starmer and Mr Trump on Monday, and ministers and officials have been in frequent conversations with their American counterparts since the measures were first presented in February.
The government estimates that about 5% of British steel exports and 6% of aluminum exports per volume goes to the US, although the organ of the aluminum industry said that the American market was good for 10% of exports – worth £ 225 million.
Mr. Trump has previously imposes threatened rates on other countries and then to give up, but he remains married to the general idea to make the US richer by taxing the import.
