UK Business Secretary Jonathan Reynolds will meet US Trade Representative Jamieson Greer in an attempt to rescue a deal to remove tariffs on British steel exports that is in danger of failing to be implemented ahead of a doubling of levies to 50% that’s due to be imposed on Wednesday.

There had been fears that the UK was to be hit with the 50 per cent tariff. UK Steel director general Gareth Stace said: “The president’s decision not to impose a 50 per cent tariff on UK steelmakers, but to keep the rate at 25 per cent while the UK-US deal is completed, is a welcome pause.

U.S. President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminum to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders,