UK steel industry to escape Trump’s higher rate tariffs

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UK steel industry to escape Trump’s higher rate tariffs

This time next week the Chancellor Rachel Reeves will be delivering the government’s Spending Review – the treasury’s decision on which departments get the funding they want and which ones lose out.

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Today in Manchester she was rolling the pitch with hints she’d had to turn down what she called "some good projects" to keep within her fiscal rules.

But in a boost to the bottom line she was able to announce that the UK’s steel industry will escape President Trump’s 50 per cent tariffs thanks to a deal made between London and Washington last month.

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Date: June 4, 2025