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UK suspends zero-tariff quota plan for steel exports to US, shifts to negotiating permanent 25% tariff
Summary: According to reports from the Financial Times, UK Prime Minister Stamer has suspended plans for UK steel exports to the US to enjoy zero-tariff quotas, instead leaning towards negotiating with Trump for a permanent 25% tariff for all UK steel exports. Stamer's allies revealed that if UK steel exports could secure a fixed 25% tariff ...
According to reports from the Financial Times, UK Prime Minister Stamer has suspended plans for UK steel exports to the US to enjoy zero-tariff quotas, instead leaning towards negotiating with Trump for a permanent 25% tariff for all UK steel exports. Stamer's allies revealed that if UK steel exports could secure a fixed 25% tariff commitment, it would provide certainty for the industry and give it a competitive advantage - as this rate is only half of the 50% tariff paid by other countries. UK government officials stated that the current 25% preferential tariff for UK steel has not yet been formalized as a permanent arrangement, but it is expected to be announced during Trump's three-day state visit to the UK starting on Tuesday.
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