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The UK and US are in negotiations to exempt the UK from President Trump’s steel tariffs, with Business Secretary Jonathan Reynolds emphasizing the negative impact on both countries. The UK government announced a £2.5bn cash injection into the steel industry, addressing job losses and investing in new technologies. The government’s Plan for Steel aims to reduce production costs, promote domestic steel use in infrastructure projects, and protect the sector from unfair trading practices, while also considering the potential consequences of US tariffs on UK steel exports.
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