The US government reached an agreement with the EU in October 2021. The 25% tariffs on steel imports from the EU to the US have been canceled since 1 January 2022. The British government tried to reach an agreement with the US to cancel the tariffs but failed.
Britain's steel exports to the US have halved since President Trump introduced 232 tariffs in 2018. The USA was the second largest export market for the UK. If the 25% tariffs are not lifted, the UK's steel industry will face a huge impact on profits and employment.
Also, according to the agreement between the EU and the US, European buyers import British crude steel for processing and then sell it to the US, these steel products are still subject to 25% tariff, which indicates that British steel is not competitive in Europe.
Therefore, the British government does not exclude the possibility of imposing retaliatory sanctions on American goods imported into the UK, if necessary.
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