US Steel Imports From UK to Stay at 25%

Tariffs on United States' imports of steel and aluminum from the United Kingdom will remain at 25% when imports from other sources will increase to 50% on June 4, according to a proclamation U.S. President Donald Trump signed on Tuesday.

Trump stated that the U.K. warranted “different treatment” to its European peers due to the "Economic Prosperity Deal" inked on May 8, CNBC reported.

The 25% tariff is expected to be removed as part of the trade deal, although Trump warned that it could even increase the levy on the U.K. to 50% "on or after July 9" if the White House "determines that the United Kingdom has not complied with relevant aspects of the EPD."