UK’s Steel Industry Opposes Plans to Remove Tariff Protections
UK Steel TariffsPES Media

UK’s Steel Industry Opposes Plans to Remove Tariff Protections

The UK steel industry has hit government plans to eliminate tariffs on imports of various products, describing them as hammer blows that risk long-term

The UK steel industry has hit government plans to eliminate tariffs on imports of various products, describing them as hammer blows that risk long-term damage to the sector. According to UK Steel, UK’s Department for International Trade’s removal of numerous products from import safeguards, designed to protect UK’s domestic producers from floods of cheap imports, needs urgent rethinking. UK Steel’s Director Mr Gareth Staith warned that the removal of protection would have a negative impact on steelmakers in Wales and northeastern England.

Steel Union Community head of operations Alas der McDiamide said “This is the first test of the government’s commitment to the steel industry after Brexit and has failed.”

Under the plan announced, DIT’s arm’s length agency, Trade Relief Research Agency, recommended extending measures for 10 categories of imports for three years starting next month. It also proposed cancelling nine categories of measures. Authorities found that there were no domestic production in these categories and said the increase in imports was not significant enough or was unlikely to damage domestic industry.

Safeguard sets tariff-free quotas on various steel products based on import levels from 2013 to 2017. If the quota threshold is exceeded, a three-month additional import duty will be levied. These have been in place since 2018, when the UK was still part of the EU and have been extended as part of the Brexit transition period that ended in December.

No stories found.
SteelGuru Business News
www.steelguru.com