Despite an exemption from 50 percent tariffs, Britain still has to pay a 25 percent duty because its trade deal with the United States has yet to be put in place.

The European Union and the US are headed in the “right direction” in trade talks, though new American levies on steel and aluminum imports aren’t helpful if both sides want to maintain momentum, Maros Sefcovic said after meeting with US Trade Representative Jamieson Greer.

Steel and aluminium exports to the U.S. face a 50% tariff from June 4. Steel producers in Europe, including major exporters in Germany and Sweden, now face a big hit from the increased duties. The U.K.