Close Menu
Trader News
  • Markets
    • Stocks
    • Futures
    • Forex
    • Commodities
    • OTC
    • QB
    • QX
    • PINK
    • Crypto
    • Options
    • Bonds
  • Crypto
    • Market
    • BTC
    • NFTs
    • DeFi
  • Technology
    • Web3
    • FinTech
    • EdTech
    • AI
  • Startups
  • Real Estate
  • Personal Finance
    • Retirement
    • Investing
  • More
    • Market Data
    • Glossary
    • Crypto Heatmap
    • Newsletter
    • Submit News
    • Exchanges, Brokerage and Savings Platforms
X (Twitter)
X (Twitter) TikTok YouTube RSS
Trader News
  • Markets
    1. Stocks
    2. Futures
    3. Forex
    4. Commodities
    5. OTC
    6. QB
    7. QX
    8. PINK
    9. Crypto
    10. Options
    11. Bonds
    Featured

    PROK, SOUN, QS, INTC, NVDA: 5 Trending Stocks Today – NVIDIA (NASDAQ:NVDA), Intel (NASDAQ:INTC)

    By News RoomJul 8, 2025 9:54 pm EDT0
    Recent

    PROK, SOUN, QS, INTC, NVDA: 5 Trending Stocks Today – NVIDIA (NASDAQ:NVDA), Intel (NASDAQ:INTC)

    Jul 8, 2025 9:54 pm EDT

    $100 Invested In Canadian Pacific Kansas 15 Years Ago Would Be Worth This Much Today – Canadian Pacific Kansas (NYSE:CP)

    Jul 8, 2025 9:53 pm EDT

    GreenPower Closes Fifth Tranche of Term Loan Offering – GreenPower Motor (NASDAQ:GP)

    Jul 8, 2025 9:50 pm EDT
  • Crypto
    1. Market
    2. BTC
    3. NFTs
    4. DeFi
    Featured

    Data suggests $100,000 could be the current accumulation range for Bitcoin traders.

    By News RoomJul 8, 2025 7:51 pm EDT0
    Recent

    Data suggests $100,000 could be the current accumulation range for Bitcoin traders.

    Jul 8, 2025 7:51 pm EDT

    $31B Stablecoin Balance At Binance Points To Altcoin Season

    Jul 8, 2025 6:44 pm EDT

    SOL Funding Turns Negative As Competitors Take Marketshare

    Jul 8, 2025 5:37 pm EDT
  • Technology
    1. Web3
    2. FinTech
    3. EdTech
    4. AI
    Featured

    Grok 4 Drops Tomorrow—Here’s How Musk’s AI Might Steal GPT-5’s Thunder

    By News RoomJul 8, 2025 9:59 pm EDT0
    Recent

    Grok 4 Drops Tomorrow—Here’s How Musk’s AI Might Steal GPT-5’s Thunder

    Jul 8, 2025 9:59 pm EDT

    Elon Musk’s Grok AI chatbot praises Adolf Hitler on X

    Jul 8, 2025 7:45 pm EDT

    ChatGPT Sent Users to a Website for a Feature It Didn’t Have—So the Founder Built It

    Jul 8, 2025 7:39 pm EDT
  • Startups
  • Real Estate
  • Personal Finance
    1. Retirement
    2. Investing
    Featured

    Goldman Sachs says these buy-rated stocks offer solid dividends

    By News RoomJul 8, 2025 7:17 pm EDT0
    Recent

    Goldman Sachs says these buy-rated stocks offer solid dividends

    Jul 8, 2025 7:17 pm EDT

    Goldman Sachs becomes second Wall Street bank to raise its S&P 500 target this week

    Jul 8, 2025 4:55 pm EDT

    Bernstein says this Chinese media platform can surge nearly 25%

    Jul 8, 2025 3:40 pm EDT
  • More
    • Market Data
    • Glossary
    • Crypto Heatmap
    • Newsletter
    • Submit News
    • Exchanges, Brokerage and Savings Platforms
Login
Trader News
You are at:Home » UK officials hopeful steel industry will avoid 50% US tariff
Commodities

UK officials hopeful steel industry will avoid 50% US tariff

News RoomNews RoomJul 8, 2025 6:34 pm EDT0 ViewsNo Comments4 Mins Read
Facebook Twitter Telegram WhatsApp Pinterest LinkedIn Tumblr Email Reddit
Share
Facebook Twitter LinkedIn Pinterest Email

Open the Editor’s Digest totally free

Roula Khalaf, Editor of the feet, picks her preferred stories in this weekly newsletter.

UK authorities are enthusiastic that the nation’s steel market will prevent being slapped with a 50 percent tariff by Donald Trump when a due date ends on Wednesday for countries to work out tariff handle the United States president.

London is secured extensive talks with Washington to totally execute the “financial collaboration” arrangement signed by both sides on May 8. The accord used a zero-tariff quota for UK steelmakers, however has actually not been concurred 2 months later on.

A representative for Prime Minister Sir Keir Starmer on Monday stated the federal government was working to get the offer ended up “as quickly as possible” however was not able to state when it would be done.

Nevertheless, 2 senior UK authorities soft-pedaled the danger that the present 25 percent tariff dealing with UK steelmakers would be raised to 50 percent when Wednesday’s due date passed for other nations to conclude settlements at the end of a 90-day time out on the “mutual tariff”. Trump revealed the step on April 2.

In an indication of the White Home’s decision to put pressure on nations to concur offers, Trump on Monday stated he would enforce tariffs of 25 percent on products from Japan and South Korea from August 1.

Last month he revealed he was doubling the worldwide United States steel tariff to 50 percent, however excused the UK from the boost, pending conclusion of settlements.

However he likewise alerted that “on or after” the July 9 due date for mutual tariff offers he “might increase the suitable rates of responsibility to 50 percent” if the UK had actually not adhered to pertinent elements of the financial collaboration offer.

2 senior authorities with understanding of conversations stated they were positive the UK steel market would prevent that worst-case circumstance.

” I highly think we will not see the 25 percent we presently have increase on July 9,” one stated, including that the topic had actually been raised straight with United States authorities recently in talks in Washington.

Another stated the UK circumstance was made complex by the reality the United States was working out with other pertinent trade partners, including that the “hard-pressed” United States administration required more time to fix the problems.

UK trade secretary Jonathan Reynolds has actually divulged that a United States requirement that steel be “melted and put” in its native land in order to receive preferential tariff treatment is the crucial sticking point. At present, not all UK steel certifies.

Individually, a trade body representing steel users in the UK alerted that ministers’ transfer to safeguard the steel market from an excess of inexpensive global imports ran the risk of setting off scarcities and greater costs for producers.

The International Steel Trade Association alerted that a UK choice to enforce extra tariffs on steel from nations consisting of Vietnam, South Korea and Algeria recently would harm “ports, transporters and all that deal with and utilize steel”.

The intervention followed Reynolds overthrew the UK Trade Remedies Authority– the body that encourages federal government on trade defence steps– to take additional actions to prevent steel disposing.

ISTA chair Julian Verden stated Reynolds had actually “overlooked” the suggestions of user groups in favour of securing the UK’s manufacturers, which he stated had a “beneficial interest” in developing a monopoly to the hinderance of market and other customers of steel.

Andrew Gardner, director of procurement at Hadley Group, among the greatest UK users of galvanised steel in building and construction and production parts, stated restricting imports from Vietnam and South Korea would “get rid of access to premium, lower-priced steel, possibly increasing expenses and leading to end users requiring to depend on inferior quality steel”.

However UK Steel, which represents manufacturers consisting of Tata Steel and British Steel, declined ISTA’s claims and stated worldwide steel costs were unsustainably low for UK manufacturers.

The federal government stated it was “working to safeguard our [steel] market from unreasonable competitors”.

Reynolds “concluded it remained in the general public interest to turn down the TRA’s suggestion to make sure the efficiency of the steel secure step for domestic manufacturers, together with the requirement for security of supply”, it included.

Source.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

GreenPower Closes Fifth Tranche of Term Loan Offering – GreenPower Motor (NASDAQ:GP)

Commodities Jul 8, 2025 9:50 pm EDT

Colossal Biosciences, Ngāi Tahu Research Centre, and Sir Peter Jackson Launch Strategic Partnership to Revive the South Island Giant Moa and Other Taonga Species

Commodities Jul 8, 2025 8:44 pm EDT

Vista Publishes its 2024 Sustainability Report – Vista Energy (NYSE:VIST)

Commodities Jul 8, 2025 7:31 pm EDT

Vistra to Report Second Quarter Results on Aug. 7, 2025 – Vistra (NYSE:VST)

Commodities Jul 8, 2025 6:20 pm EDT

Donald Trump escalates trade war with plans for 50% copper tariff

Commodities Jul 8, 2025 5:25 pm EDT

Kurv’s KGLD ETF Turns Gold Gains Into Monthly Paychecks – Kurv ETF Trust Kurv Gold Enhanced Income ETF (BATS:KGLD)

Commodities Jul 8, 2025 5:12 pm EDT
Add A Comment
Leave A Reply Cancel Reply

You must be logged in to post a comment.

Latest News

PROK, SOUN, QS, INTC, NVDA: 5 Trending Stocks Today – NVIDIA (NASDAQ:NVDA), Intel (NASDAQ:INTC)

Jul 8, 2025 9:54 pm EDT

$100 Invested In Canadian Pacific Kansas 15 Years Ago Would Be Worth This Much Today – Canadian Pacific Kansas (NYSE:CP)

Jul 8, 2025 9:53 pm EDT

GreenPower Closes Fifth Tranche of Term Loan Offering – GreenPower Motor (NASDAQ:GP)

Jul 8, 2025 9:50 pm EDT

Here’s How Much You Would Have Made Owning Murphy USA Stock In The Last 5 Years – Murphy USA (NYSE:MUSA)

Jul 8, 2025 8:47 pm EDT

Colossal Biosciences, Ngāi Tahu Research Centre, and Sir Peter Jackson Launch Strategic Partnership to Revive the South Island Giant Moa and Other Taonga Species

Jul 8, 2025 8:44 pm EDT

Subscribe to Updates

Get the latest markets news and updates directly to your inbox.

[newsletter_form]

Top News

BTC

Data suggests $100,000 could be the current accumulation range for Bitcoin traders.

By News RoomJul 8, 2025 7:51 pm EDT0

Secret takeaways: Bitcoin’s month-to-month outflow/inflow ratio has actually dropped to 0.9, signifying restored long-lasting self-confidence…

Elon Musk’s Grok AI chatbot praises Adolf Hitler on X

Jul 8, 2025 7:45 pm EDT

ChatGPT Sent Users to a Website for a Feature It Didn’t Have—So the Founder Built It

Jul 8, 2025 7:39 pm EDT

Most Crypto Apps Assume You’re Online — This One Works Where The Internet Doesn’t

Jul 8, 2025 7:37 pm EDT
About
About

Trader News is the only source for the latest news and updates about the market, finance, crypto and real estate. Follow us to get the only news that matters.
We're social, connect with us:

X (Twitter) YouTube TikTok
Popular News

MintMiner Launches Global Cloud Mining Platform, Offers Free BTC

Jul 4, 2025 11:34 pm EDT

On-the-job learning upended by AI and hybrid work

Jul 6, 2025 11:34 pm EDT

Julian McMahon, Actor Who Played Doctor Doom In Fantastic Four Dies At 56

Jul 4, 2025 10:30 pm EDT

Subscribe to Updates

Get the latest markets news and updates directly to your inbox.

[newsletter_form]
Copyright © 2025. TraderNews. All Rights Reserved.
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?