US Steel Import Tariffs

Luke Myer Excerpts

Tuesday 11th February 2025 Commons Chamber

[Mr Alexander]

There are plenty of opportunities for Ministers to be held accountable in relation to the dialogue that we have started, and that we continue, with steel producers in the United Kingdom.

Turning to the hon. Gentleman’s initial point about whether this announcement has come as a surprise, candidly, it has not. However, it is also fair to recognise that the new President has a speciality in generating uncertainty—part of his style of negotiations is creating uncertainty as to what will happen next. As I sought to suggest in my opening answers, we have answers on steel today, but the proclamation that emerged overnight did not give us answers on aluminium. In those circumstances, it is right and reasonable to be mindful of the statements that have been made, which I can assure the House that we were, and to undertake analysis, which I can assure the House we are also continuing to review and reach a judgment on.

At the same time, we should recognise that the date on which these tariffs come into effect is 12 March. As a consequence, there is a window of opportunity to not only engage with the workforce and the companies to ensure that we better understand exactly what they are looking for in light of these specific measures, but critically, to engage directly with the Trump Administration. That is work to which our ambassador is already turning his mind.

[Luke Myer (Middlesbrough South and East Cleveland) (Lab)]

Let us not forget that steel is a strategically important industry, both for our economy and our national security, and if other countries are going to be protecting their steel industry, our Government must not be afraid to make the big fiscal choices required to protect our own. Will the Minister assure the House that responding to these tariffs will be a priority for this Government, as will putting the industry on a sure footing in the years ahead?

[Mr Alexander]

In terms of being willing to make the big fiscal choices, we have committed £2.5 billion of public money since July to support the steel industry, with resources being funnelled in part through the national wealth fund. I can assure my hon. Friend that we have already been willing to put money, as well as commitment, behind the steel industry. He is absolutely right to recognise the strategic significance of this industry, not just on its own terms but much more broadly to the manufacturing capability of the United Kingdom. He has alluded to the risk of trade diversion, given the potential remedial action taken by other trading blocs, so I also want to assure him that we have protections that will remain in place until 2026. There are safeguards in place in relation to trade diversion, as well as the UK’s ability to act independently.