From Morningstar: 2025-06-04 04:34:00

The UK has been spared the immediate hit of Donald Trump’s 50% steel and aluminium tariffs after a deal with the US last month. Tariffs will remain at 25%, but could increase to 50% for the UK in July if compliance is not met. The UK was the first country to secure a trade deal with the US earlier this month, protecting British business and jobs.

Prime Minister Keir Starmer’s trade deal with the US included relief on steel and aluminium tariffs, but implementation is pending. Business Secretary Jonathan Reynolds met with White House Trade Representative Jamieson Greer to discuss the deal’s swift implementation. The general terms of the UK-US agreement were published in May, outlining intended plans.

White House Press Secretary Karoline Leavitt confirmed that there is text for the deal, but it has not been released to the UK Parliament. The UK government has not yet shared the full text of the agreement with Parliament. Morningstar’s editorial policies were followed in this article, and the authors do not own shares in any mentioned securities.



Read more at Morningstar: UK Swerves Trump Steel Tariffs But Uncertainty Remains