00:00We have seen the proclamation issued by President Trump overnight, which enforces a full return
00:06to 25% tariffs on US steel imports on 12 March 2025. Only details on steel have so far been
00:15published by the United States, not on aluminium. The intended effect of this proclamation is
00:20to revoke existing arrangements that have avoided these tariffs, such as the UK-US resolution,
00:26as well as any separately agreed product exclusions from the tariffs. What British industry needs
00:31and deserves is not a knee-jerk reaction, but a cool and clear-headed sense of the UK's
00:38national interest, based on a full assessment of all the implications of the US's actions.
00:43The Minister of State for Industry is meeting representatives of the steel industry and
00:46trade unions this very afternoon, and the Secretary of State for Business and Trade
00:50is in touch with representatives of the British steel industry and will be meeting them within
00:53the next 24 hours. Since July, we have engaged in a systematic way with the UK steel sector,
00:59and we will continue to engage with UK industries impacted by potential tariffs. Historically,
01:06we have benefited from a strong and balanced trade relationship with the United States,
01:10worth around £300 billion and supporting millions of jobs. So in trade policy, we stand
01:16ready to work with President Trump to find solutions that work for both the United Kingdom
01:21and the United States.
01:51Transcription by ESO. Translation by —
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