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“We
will keep all options on the table and won’t hesitate to respond
in the national interest,” Reynolds said.
Treasury Minister James Murray echoed that, telling Times Radio:
“We reserve our right to retaliate.”
Britain is not part of the European Union, which Wednesday
announced import taxes on American goods, ranging from steel and
aluminum to bourbon, peanut butter and jeans in response to
Trump’s move.
Center-left U.K. Prime Minister Keir Starmer has worked to build
strong ties with President Donald Trump, in hope of avoiding the
tariffs levied on many other U.S. trading partners.
After a meeting last month at the White House, Trump and Starmer
said their governments would work on sealing a long-elusive
U.S.-U.K. trade deal.
Reynolds said the government remains “focused on a pragmatic
approach and are rapidly negotiating a wider economic agreement
with the U.S. to eliminate additional tariffs and to benefit
U.K. businesses and our economy.”
The tariffs are a new blow for Britain’s once-mighty steel
industry, which has shrunk dramatically from its 1970s peak and
now accounts for 0.1% of the economy. Thousands of jobs are due
to be lost at the country’s biggest steelworks, at Port Talbot
in Wales, as owner Tata Steel tries to make the unprofitable
plant leaner and greener.
Trade body UK Steel said that in 2024, Britain exported 180,000
metric tons (198,000 U.S. tons) of steel to the United States,
about 7% of the U.K.’s total steel exports by volume and 9% by
value. The aluminum industry says the U.S. market accounts for
10% of U.K. exports.
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