Campaigners are calling for the UK to deepen alignment on goods and services with the EU after it was confirmed today that the US would be implementing tariffs on steel and aluminium imports from the UK.
Government officials had hoped that the UK might been exempt from the punitive measure following the Prime Minister's cordial meeting with the US President last month and because the UK has a relatively equal trade balance with the US.
The tariffs mean that all UK steel and aluminium imports into the US will be taxed an additional 25% which will likely damage sales for Britain's troubled steel industry. Unlike the EU, the UK Government has confirmed they would not be imposing reciprocal tariffs on US imports.
However, recent independent research highlights another way the UK can respond. The report by Frontier Economics commissioned by Best for Britain shows that by agreeing a common sense deal with the EU on goods and services, the UK can more than offset the damage of new tariffs from the US.
Naomi Smith Chief Executive of Best for Britain said,
"Trump is waging trade war on America's closest allies that will result in higher prices for ordinary people around the world.
"The UK's response must be to deepen ties with the EU which independent research shows will not only shield the UK and Europe from Trump's tariffs, but deliver significant economic growth across Britain."