The Aluminium Federation, which represents the UK’s aluminium sector, has welcomed the announcement that the European Union and six other countries will be exempt from steel and aluminium tariffs recently announced by President Trump.
“The exemption of the EU, Argentina, Australia, Brazil, Canada, Mexico and South Korea from these measures, which come into effect today, is good news”, said Aluminium Federation President Giles Ashmead. “However, this exemption is only temporary, and European markets are still vulnerable to flows of diverted aluminium product from producing countries that remain affected by the tariffs. This situation can only generate uncertainty in our industry.”
“Tariffs in general are a blunt instrument, and the indirect consequences of any resulting trade war could be far more serious for UK manufacturing than the original measures.
“We will continue to work with BEIS and the EU on a multilateral solution to the root cause of this issue, which is the problem of global overcapacity, particularly in China, whose output grew by 13% in 2017, and which already produces more than half the world’s primary aluminium.”