Last week, President Donald Trump unilaterally imposed tariffs on all steel and aluminium products imported into the United States. Only one country has so far been exempt – Australia – meaning that the UK will now face a tariff on all our steel and aluminium products that we want to export to America.
I asked the Secretary of State for Trade – who places much value on the UK’s ability to strike a trade deal with the United States – if he was informed by the his counterparts in the US that these tariffs would be imposed.
Tariffs are bad for businesses, which means they are bad for jobs. We need to ensure that protectionism of this sort doesn’t spread. If this triggers a trade war we will all be worse off.