Keir Starmer has admitted that the clock is ticking on getting his much-vaunted trade deal with Donald Trump in place before the steel industry is hit by crippling 50 per cent tariffs.
The two men unveiled their trade deal last month to great fanfare as the first of a number that the US President hopes to get across the line following his decision to impose worldwide tariffs.
The issue is one of a number Sir Keir will hope can be dealt with at a crucial G7 summit in Canada.
However, a deadline of Wednesday looms large, leaving Sir Keir just days to get his deal implemented before subsequent tariffs announced by Trump of 50 per cent on steel imports also apply to the UK.
The 50 per cent rate already applies to the rest of the world, but the UK government managed to get a grace period because of its earlier deal to keep them at 25 per cent.
Speaking to journalists on the plane to the G7 in Alberta, Sir Keir suggested he was confident about getting the job done but could not guarantee he would hit the deadline.
He is due to meet the US president at his first G7 summit in a bilateral meeting on the fringes of the gathering of world leaders, as well as at social events.
He said: “We’ve shaken on the deal and we’re at the implementing stage now, which doesn’t actually require another shake of the hand, although I am sure there will be many shakes of the hand. I mean, we have reached the agreement and are now implementing it and that is going on.
Asked if it was “job done”, he added: “Well, we are at the final stages. We had to do various things, they had to do various things, but I am very confident we’re implementing it.”
The issue is of added importance for Sir Keir because the US deal is one of his major successes in a premiership of less than a year, fraught with rows and controversy.
Labour also effectively nationalised British Steel as an emergency measure, which leaves the British taxpayer on the hook if markets in America are lost.
The issue is not the only headache for the prime minister, who now also has to ensure President Trump does not abandon the UK, US and Australia submarine pact Aukus, having put it under review.
Sir Keir said: “Aukus is really important. We’re fully committed to it. It’s not unusual for an incoming government to do a review of a project like that. We, of course, looked into the issue when we came into government, we got Steven to look at it, and they’re doing their own review. But I’m 100 per cent committed to it. I’m really clear about that.”
Asked if he was confident President Trump would continue with the deal, he said: “I think so. It’s a really important project. So I don’t have any doubt that this will progress.”
