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Trump's steel tariffs would damage UK and US, says Business Secretary

US President Donald Trump's planned tariffs on imports of UK steel will cause damage on both sides of the Atlantic, Business Secretary Jonathan Reynolds said. The Government has promised a package of up to £2.
The article from MSN discusses the potential negative impacts of former President Donald Trump's proposed steel tariffs on both the UK and the US economies. UK Business Secretary Kemi Badenoch has expressed concerns that these tariffs would harm businesses and consumers in both countries. The tariffs, which Trump has suggested could be as high as 60%, aim to protect American steel industries but could lead to increased costs for steel-dependent industries, potentially resulting in job losses and higher prices for goods. Badenoch highlighted the importance of free trade and warned that such protectionist measures could disrupt global trade relations and economic stability. The article also notes that these tariffs could provoke retaliatory measures from trading partners, further complicating international trade dynamics.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/trump-s-steel-tariffs-would-damage-uk-and-us-says-business-secretary/ar-AA1z9dLY ]