UK's Zero-Tariff Hopes for US Steel Exports Put on Hold Indefinitely

UK Hopes for 0% Tariff on Steel Exports to US Dashed LONDON - The UK's hopes of securing a zero-tariff deal on steel exports to the United States have been put on hold indefinitely, according to government sources. The proposed agreement would have eliminated tariffs of 25% currently applied to British steel exports, which account for 6% of all UK steel exports by volume and 9% by value. The move was seen as a key component of the UK's post-Brexit trade strategy with the US. However, despite President Donald Trump's hints at possible tariff relief during his state visit to the UK in June, negotiations have stalled. Speaking to reporters on Air Force One as he departed the country, Trump said: "We've made a deal, and it's a great deal, and I'm into helping them [the UK] fine-tune the trade deal a little bit." The US and UK signed a trade agreement in June that reduced tariffs on car and aerospace imports to the US. However, the two sides failed to reach an agreement on British steel exports. Senior government sources insist that the UK is in a competitive position relative to other countries facing tariffs of 50% or higher on their steel exports to the US. "We're not losing out," said one source. "Our steel industry is still competitive, and we're not at a disadvantage compared to others." The delay in securing a zero-tariff deal has been met with disappointment from some quarters. "This is a missed opportunity for the UK's steel industry," said a spokesperson for the Confederation of British Industry (CBI). "We urge both governments to revisit these talks and find a solution that benefits all parties involved." The current status of negotiations remains unclear, but government sources indicate that talks are ongoing. A spokesperson for the Department for International Trade said: "We continue to engage with our US counterparts on trade issues, including steel tariffs. We remain committed to securing a deal that works for both countries." In the meantime, UK steel exporters will continue to face tariffs of 25% on their exports to the US. The impact on the industry is expected to be significant, with some estimates suggesting it could cost British businesses millions of pounds in lost revenue. The delay in securing a zero-tariff deal has also raised questions about the effectiveness of the UK's post-Brexit trade strategy. Critics argue that the government's approach has been too focused on securing deals with individual countries rather than negotiating comprehensive agreements that cover multiple sectors. As one industry expert noted: "This is a classic example of the UK trying to negotiate bilateral deals without considering the broader implications for its trade policy. It's a short-term fix, but it won't address the underlying issues facing our steel industry." The situation remains fluid, and it is unclear when or if negotiations will resume. However, one thing is certain: the UK's hopes of securing a zero-tariff deal on steel exports to the US have been dashed, at least for now. *Reporting by Bbc.*