East Midlands Chamber has given its reaction after Donald Trump announced 25% tariffs on aluminium and steel imports would be implemented globally ‘with no exception.’
Chief Executive Scott Knowles said: “With the mountain of challenges businesses are facing right now, it’s hugely disappointing that no exemption has so far been made for the UK and this news is not going to be welcome for those that export steel to the US. Stamping on this extra cost could threaten jobs, while production costs will likely be driven further upwards and that can have a knock-on effect beyond th the steel industry. Businesses in the East Midlands are already grappling with increasing price pressure, with 6 out of 10 reporting they’d have to consider raising prices in our Quarterly Economic Survey.
“The UK has a long history providing steel products to the US and being able to export smoothly and affordably is essential for businesses. I urge the government to immediately step up efforts to negotiate a deal that’s supportive of business.”
