West Midlands metal manufacturer says Trump tariffs will hit US trade
A West Midlands firm hit by new tariffs on steel and aluminium says the issue will make the company's international trade with the US "more difficult".
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The new tariffs came into effect on Wednesday (March 12), meaning US businesses importing aluminium and steel into the country now have to pay an extra 25% tax on them.
The UK Business Secretary has described Donald Trump’s decision to impose global tariffs on steel and aluminium as “disappointing” and said “all options” are on the table to respond in the national interest.
Bridgnorth Aluminium, which employs over 300 people at its Bridgnorth base, currently exports around 20% of its products to the United States - and says the new tariffs announced by US President Donald Trump could make the business "less competitive" than under current rules.
“These tariffs add another dimension to the global uncertainty we are all currently dealing with," said Adrian Musgrave, Head of Sales at Bridgnorth Aluminium.
“If there is no movement on the 25% rate it will make trading with the US more difficult for us as a business, but it could also cause supply and cost issues for firms in America too.
“For example, for a significant portion of our US sales, there is currently no US producer. This means there is no threat to domestic aluminium production, yet companies using our aluminium may soon be hit by rising costs."
The company says it is working with the Government alongside trade bodies to lobby for a deal between the two countries which reduces or removes the import tax altogether.
Meanwhile William Bain, head of trade policy at the British Chambers of Commerce, warned of an "all-out trade war" - and called on the UK Government to negotiate a reduction in the tariffs as soon as possible.
“This is a difficult day for trans-Atlantic trade and plunges businesses, in both the US and UK, into a new age of uncertainty," he said.
“Products made with UK steel and aluminium play an important part in many supply chains in the US. Both sides will now be facing up to negotiations on how the burden of these new tariffs will affect businesses in both countries.
“Despite this action, UK firms will want to keep trading with their customers and clients in the US and vice versa. Our commercial, investment and trading relationships remain strong. "
