British Prime Minister Keir Starmer has announced a £2.5 billion package to support the country’s struggling steel industry, following Donald Trump’s threat to impose a 25% tariff on all steel imports to the United States.
The decision comes after Trump's announcement earlier this week, which sparked concerns over the future of Britain's fragile steel sector.
According to The Independent, the UK government has been holding talks to address long-term challenges facing the industry, including high electricity costs and the need for greater metal recycling initiatives.
Chancellor Rachel Reeves confirmed that she would be working with the Prime Minister to negotiate an exemption from the tariffs, expressing confidence that an agreement could be reached.
She noted that unlike many other countries, Britain does not run a trade surplus with the US and does not intend to retaliate with its own tariffs, in contrast to the European Union’s approach.
Britain’s steel sector has struggled in recent years, with significant job losses in the Port Talbot steelworks in South Wales, largely due to a shift towards environmentally friendly production methods.
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