The U.K. government is temporarily suspending tariffs on 89 imported products, in hopes of shielding businesses from the impacts of President Donald Trump's escalating trade war.

According to an April 13 release, the suspended tariffs will cover a range of products, including plywood, pasta, fruit juices, coconut oil, pine nuts, agave syrup and plant bulbs. The government estimates the move will save U.K. businesses at least £17 million ($22.4 million), with the suspension set to run through July 2027. 

Other countries in Europe have similarly sought to protect their economies with so-called "tariff shields," The New York Times reports, with Germany, Italy, Portugal and Spain announcing more than €50 billion ($56.8 billion) in financial support for businesses impacted by Trump's trade policies. Those funds will help cover financing and credit insurance for tens of thousands of EU exporters, in the face of growing concerns from economists over the possibility of a recession brought on by U.S. tariffs.

“The world as we knew it has changed — we have to adapt and react,” Portugal's Prime Minister Luís Montenegro said at an April 10 news briefing. 

On April 12, the U.K. government also took control of British Steel from its Chinese owners, to save the country's last remaining blast furnaces capable of making steel from raw materials, and save the jobs of roughly 2,700 workers. If the plant were to close, the U.K. would be the only G7 nation that can't produce virgin steel, making the plant that much more essential as world economies grapple with the fallout of Trump's 25% tariffs on foreign steel and aluminum.

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