Business Secretary Peter Kyle has pledged that tariff relief for UK steel is being negotiated with the United States. He promised to "make sure that we have an announcement as soon as possible" during negotiations aimed at reducing the current 25% tariffs.
The UK and US signed a trade deal in June that successfully reduced tariffs on car and aerospace imports to America. However, the agreement failed to secure terms for British steel, leaving the punitive 25% tariffs in place.
Negotiation challenges
The sticking points reportedly include US concerns over steel products manufactured elsewhere in the world before being finished in the UK. MPs have called for the Government to maximise pressure on America to secure relief from tariffs ahead of Donald Trump's state visit.
Kyle told the BBC's Sunday Morning With Laura Kuenssberg that the UK's steel industry is "better protected than any other around the world". The newly appointed Business and Trade Secretary said he went to Washington last weekend after being appointed on Friday evening in the Cabinet reshuffle.
White House meetings
Kyle revealed he was "in the West Wing of the White House on Monday, talking about these issues". He emphasised his immediate action, stating: "I am straight out of the gate, I am there negotiating, and we will get a deal across the line for a whole bunch of new things and new opportunities very soon."
The Commons Business and Trade Committee published a report on Sunday welcoming the Government's success in securing swift tariff relief for key sectors. However, the committee stressed it is "vital that Government maximises pressure on the United States" during Trump's upcoming visit.
Parliamentary pressure
Committee chairman Liam Byrne MP described the state visit as "no mere pageant". He said: "It is a test of whether Britain and US build a safer, richer future - or remain trapped in tariff fights that serve neither nation well."
Byrne acknowledged that Sir Keir Starmer (Labour) "deserves credit for securing the economic prosperity deal". However, he warned that "Britain now trades with its biggest partner on terms that are worse than the past" and "key sectors of our economy still face the peril of new tariffs".
Investment announcements
US financial firms have announced investments worth £1.25 billion before Trump's state visit. The Department for Business and Trade said these investments, along with other capital commitments, represent some £20 billion in trade between the two countries.
Tech giants OpenAI and Nvidia are reportedly planning to unveil billions of dollars of investment into UK data centres during next week's visit. Sam Altman, boss of ChatGPT-maker OpenAI, and chipmaker Nvidia's chief executive Jensen Huang are understood to be joining Trump's delegation.
State visit details
Trump's two-day trip begins on Wednesday and includes an overnight stay at Windsor Castle. The committee urged the Government to leverage the US partnership to gain advantages over China in artificial intelligence and defence technology.
Sources used: "PA Media" Note: This article has been edited with the help of Artificial Intelligence.
