UK industry speaks out against Trump’s tariffs, as Fox calls move “absurd”

US tariffs on steel and aluminium from the EU have been confirmed, sparking strong reaction from UK industry and governments around the world.
(Credit: Skeeze via Creative Commons)
Though first tabled over two months ago, the tariffs (25 per cent on steel and 10 per cent on aluminium) were delayed for some close allies of the US as interim talks took place. But yesterday, US commerce secretary Wilbur Ross said insufficient progress had been made, and the tariffs have now come into effect for the EU, Canada and Mexico.
UK trade secretary Liam Fox called the move “patently absurd” when speaking to Sky News, and Canadian prime minister Justin Trudeau said the move was an “affront” to Canadians, particularly as it had been carried out under the pretext of national security. The EU, Canada and Mexico have all said that comparable measures will be taken in response to the US tariffs.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Comment: The UK is closer to deindustrialisation than reindustrialisation
But is VAT to blame? Manufacturers are taxed on the value added to a product, lets say a billet of steel is purchased. They add value by shaping and...