Steel Meets Diplomacy: UK, US Trade Chiefs Talk Tariffs in Paris

Image Source: Reuters

UK Trade Minister Jonathan Reynolds will today meet U.S. Trade Representative Jamieson Greer in Paris to talk about implementing a trade agreement overshadowed by new U.S. tariffs on steel. The meeting comes as Britain aims to cement deals with its two largest trading partners—the U.S. and the EU—against a backdrop of changing global trade dynamics.

Key Developments in the Trade Deal

The U.S. and UK had also committed to lowering tariffs on British car and steel exports, though the timeframe for implementation remains unclear.

The move by President Trump to double steel tariffs from 25% to 50% last week has caused alarm for British manufacturers, with trade leaders labeling it a setback.

Reynolds is seeking to unveil the implications of these tariffs and reach a smoother transition for British exports.

Broader Trade Discussions

Reynolds will also meet with Indian Commerce Minister Piyush Goyal to seal a Free Trade Agreement between the UK and India, which is still out for legal review.

Meetings with EU Trade Commissioner Maros Sefcovic will center on streamlining bureaucratic obstacles in food trade, with Britain already announcing an end to border checks on imports of EU fruit and vegetables.

Implications for Global Trade

The British government places its emphasis on developing changing trade relations with G7 partners to create a less volatile business climate.

The raise in the steel tariff may trigger supply chain disturbances, which can necessitate additional talks in order to curb economic risks.

Sources: Reuters, Hindustan Times, MSN News.