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

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.

U.S. President Donald Trump hiked nearly all of his tariffs on steel and aluminum imports to a punishing 50% on Wednesday in a move that’s set to hammer businesses from automakers to home builders, and likely push up prices for consumers even further.