UK’s Fox: EU will make UK's case for Trump tariff exemptions

Dhwani Mehta FXStreet

In his statement to Parliament, the UK Trade Secretary Liam Fox urges the European Union (EU) to make the case for an exemption from Trump’s steel tariffs, despite the Kingdom’s likely exit from the block next year.

Key Quotes via Bloomberg:

“I will be making the case for the U.K. as part of the EU.”

“Our current membership of the European Union means that the European Commission will be coordinating the European response.”

The countries with which the U.S. has strong security relationships could apply for exemptions from the tariffs. Businesses in the U.S. could also ask for relief for products that they rely on when there are national security considerations.

“We do disagree with the U.S. decision to implement tariffs on steel and aluminum imports.”

“These unilateral trade measures have weak foundations in international law.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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