The government has already said it would not retaliate immediately to the tariffs announced by Trump.

UK Steel, which represents the industry, has said the tariffs would be a “devastating blow” that would damage the sector’s £400m-a-year contribution to UK-US trade.

The UK is not a big supplier of steel to the US, with the country accounting for about 10% of British steel exports.

But there are concerns within the industry the tariffs might not just hinder exports to the US, but also lead to excess steel being “dumped” in the UK.

This could occur if other countries no longer exporting to the US decide to offload steel at cheaper prices, which could potentially lead to UK steelmaking businesses being undercut.

Shadow business secretary Andrew Griffith said the “uncertainty” the steel industry faced due to US tariffs was something the government “has been entirely silent on when instead they should be talking to the US, our closest trading partner”.

On Sunday, the government launched a consultation on its Plan for Steel, which will look at ways to reverse long-term issues facing the industry – including cheap imports flooding the domestic market.