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The winds keep blowing in different directions on tariffs that it is impossible for markets to establish the lay of the land,
said AJ Bell investment director Russ Mould
We are concerned that, without proactive safeguarding, the UK could face an influx of low-cost imports, threatening the competitiveness and stability of our domestic market,
Ms Bloxsome addedSizewell C will be one of the biggest buyers of British steel in the coming years, securing thousands of homegrown jobs and strengthening domestic manufacturing at this critical time,
Ms Pyke addedThese tariffs not only increase costs directly but also create broader market uncertainties that can disrupt supply chains and lead to unforeseen financial and legal risks,
Mr Trustram addedProducts made with UK steel and aluminium play an important part in many supply chains in the US. Both sides will now be facing up to negotiations on how the burden of these new tariffs will affect businesses in both countries,
he saidAt a moment in the economic cycle when boosting business confidence and unlocking firms’ capacity for investment holds the key to kickstarting economic growth, the escalating tariff situation in the US remains deeply concerning,
he saidOn the question of tariffs, like everybody else I’m disappointed to see global tariffs in relation to steel and aluminium, but we will take a pragmatic approach. We are negotiating an economic deal which covers and will include tariffs if we succeed but we will keep all options on the table.”
Speaking on the UK's approach, Starmer said
It is essential that the UK Government not only continues efforts to negotiate exemptions with the US but also takes decisive action to bolster our trade defences.
Mr Stace added
The UK aluminium sector is already seeing the first impacts of these tariffs
Nadine Bloxsome, chief executive of the Aluminium Federation, saidWe will keep all options on the table and won't hesitate to respond in the national interest
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It's disappointing the US has today imposed global tariffs on steel and aluminium,
he saidPresident Trump must surely recognise that the UK is an ally, not a foe
Director General Gareth Stace saidWell, we're in a very different position than the EU as a result of the Prime Minister's trip to Washington last month
He told Sky NewsThe European Union must act to protect consumers and business. The countermeasures we take today are strong but proportionate.”
Ursula von der Leyen, President of the European Commission, said
We are focused on a pragmatic approach, ... and are rapidly negotiating a wider economic agreement with the U.S. to eliminate additional tariffs and to benefit UK businesses and our economy.”
he addedThey are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake, prices up, nobody needs that, on both sides, neither in the EU or the US."
She saidIt's a huge amount given that we're still suffering from high energy costs that our competitors don't pay. We're seeing global overcapacity, the same issue that President Trump is seeing. We want to work with him to tackle that."
He added
This government is working with affected companies today, and I back industry’s application to the Trade Remedies Authority to investigate what further steps might be necessary to protect UK producers
Mr Reynolds saidOur government must act decisively to protect the steel industry and its workers following the announcement of US tariffs. This is a matter of national security
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We're not going to retaliate immediately in that way."
Mr Murray said