The Department for Business and Trade (DBT) has told British firms the new steel quotas will be finalized within two to three weeks, said a senior business representative granted anonymity to speak candidly about private discussions. The Trump administration could potentially enact the measures through an executive order, they pointed out.
Fully removing the tariffs will also require changes to rules of origin in the U.S., including for U.K. car exports and car parts. “We don’t have clarity on auto parts,” the senior business representative said, adding businesses have “not been told by DBT how many other areas would need work” in the deal. For now “nothing has changed,” they said, and “millions of orders are at risk” as the tariffs remain in effect.
“The devil is in the detail,” said Stephen Morley, president of the Confederation of British Metalforming, a business group representing 200 U.K. manufacturers.
“Our members who are dealing directly with DBT are being told hopefully two to four weeks” for new steel quotas to be established. Right now, Morley added, his members are “patiently waiting” to resume their exports.
Laurence McDougall, owner and managing director of All Steels Trading, a steel trader in North Yorkshire, said the firm’s U.S. customers have pulled back on orders since the tariffs came into effect.
The company exports specialized steel and steel products used in shipbuilding, roller conveyor systems like those in Amazon warehouses and automotive manufacturing components.
“When we heard the news that the duty had been removed on U.K. steel, we advised our customers, and then we started sending containers shortly after,” McDougall said. While the goods were on the water and about to arrive in the U.S. “that’s when we discovered that it was just a deal in principle” and yet to be ratified.