There has not been an official response from the British government to the latest US tariffs yet but the trade body UK Steel has said in a statement that the tariffs would deliver a “devastating blow” to their industry.

“The US is our second-largest export market after the EU. At a time of shrinking demand and high costs, rising protectionism globally, particularly in the US, will stifle our exports and damage over £400m ($494m) worth of the steel sector’s contribution to the UK’s balance of trade,” Gareth Stace, UK Steel’s director general, said in a statement.

“It is deeply disappointing if President Trump sees the need to target UK steel, given our relatively small production volumes compared to major steel nations,” he said, adding that there was a danger that other countries could “redirect” steel to the UK market to avoid US tariffs.

On Tuesday, European Commission President Ursula von der Leyen responded by saying “unjustified tariffs on the EU will not go unanswered”.

“They will trigger firm and proportionate countermeasures. The EU will act to safeguard its economic interests,” she said. “I deeply regret the US decision to impose tariffs on European steel and aluminum exports. Tariffs are taxes – bad for business, worse for consumers.”

According to trade group Eurometal, the US was the second-largest market for EU exports of iron and steel.

Trump imposed tariffs on both the UK and the EU during his first term but those restrictions were later relaxed by the Biden administration.