TL;DR
Liz Truss strongly supported the use of tariffs to defend key domestic industries from unfair international competition.
Key Points
As International Trade Secretary, she announced the rollover of tariffs in response to US 'Section 232' measures on steel and aluminium from December 2020.
She stated that as an independent trading nation, the UK finally had the ability to shape these tariffs specifically to the UK's economic interests.
The government suspended retaliatory tariffs stemming from the Boeing dispute to signal seriousness about reaching a negotiated settlement with the US.
Summary
Liz Truss, during her tenure as International Trade Secretary, explicitly stated her intention to use tariffs as an independent trading nation to protect the UK's core industries. Her core position involved rolling over existing tariffs, specifically in response to the United States' 'Section 232' tariffs imposed on aluminium and steel imports, to defend the domestic steel sector against what the government deemed unjustified measures. This stance reflected a more assertive use of trade tools once the UK was no longer bound by the EU's common external policy.
In a parallel move aimed at de-escalation while maintaining leverage, the government announced the suspension of retaliatory tariffs related to the Boeing-Airbus dispute, signalling a willingness to negotiate a settlement with the US. This demonstrated a dual strategy: protecting specific sectors with tariffs while seeking negotiated outcomes to deepen the broader UK-US trading relationship, marking a distinct, independently shaped approach to trade conflicts.
Frequently Asked Questions
Liz Truss took a strong, assertive stance on tariffs, particularly when serving as International Trade Secretary. She viewed them as a necessary tool to defend key UK industries, like steel, against what she considered unfair international measures. Her position favoured shaping these trade defence mechanisms to align specifically with UK economic interests.
Yes, as Trade Secretary, she confirmed the UK would roll over existing tariffs in response to the US 'Section 232' tariffs on steel and aluminium. However, she also suspended retaliatory tariffs in the Boeing dispute to encourage a negotiated settlement with the US.
Liz Truss announced the UK's independent approach to US tariffs on steel, aluminium, and aerospace on December 8, 2020. This decision was made in anticipation of the UK becoming an independent trading nation after leaving the European Union.
Sources7
UK announces new approach on US tariffs - GOV.UK
Trump's 'Liz Truss moment': when economic bravado meets market reality
A Liz Truss moment? - by Scott Sumner
Of Truss, Trump and tariffs - New Statesman
Trump tariffs markets Liz Truss
Liz Truss markets tariffs Trump intl
Trumps Big Economic Policy Blunder
* This is not an exhaustive list of sources.