Starmer pledges up to £2.5bn to help UK steel industry after Trump’s tariffs threat but is hoping that the UK will be exempt.
Keir Starmer is making arrangements domestically to protect the British steel industry following a capitulation in US-UK relations. Since the inauguration of President Donald Trump Starmer has been on the backfoot.
Keir Starmer has been urged to spell out plan to fight Trump’s tariff trade war, especially by the opposition who are taking this opportunity to align themselves with Trump’s agenda.
Starmer pledges up to £2.5bn to help UK steel industry
US president announced a worldwide 25 per cent tariff on steel imports last week and in response Starmer pledges up to £2.5bn to help UK steel industry after Trump’s tariffs threat.
Help will be available through the National Wealth Fund, which ministers said could benefit regions including Scunthorpe, Rotherham, Redcar, Yorkshire and Scotland.
Trump’s tariffs threat
Gareth Stace, director general of UK Steel, said: “The government’s commitment to our steel sector is both vital and welcome. A robust, bold, and ambitious steel strategy has the power to reverse the sector’s decline, particularly as we face increasing competition from imports benefiting from more favourable business conditions.
A consultation has been launched to look at long-term problems facing the industry, including high electricity costs and scrap metal recycling.
On Monday night Rachel Reeves said she and Sir Keir Starmer would argue for an exemption from Trump’s tariffs for the UK.