In a statement, UK Steel noted that more than 70% of the UK's steel exports are destined for the European Union, adding that securing country-specific quotas for the UK had been one of the sector's key priorities.
The organization thanked ministers and officials at the Department for Business and Trade (DBT) for their extensive efforts and close cooperation with the industry throughout the negotiations.
UK Steel emphasized that the country-specific quotas would safeguard UK steelmakers' access to the EU market and provide a stronger and more predictable framework than a system relying solely on shared quota pools.
However, the organization stressed that the new quota regime should not be viewed as the end of the process.
The statement noted that global steel markets continue to face pressure from subsidized overcapacity, forcing both the UK and the European Union to strengthen their trade defense measures. While acknowledging that such measures are understandable, UK Steel pointed out that they inevitably make trade between the two closely integrated markets more difficult.
The organization added that the ongoing renegotiation process between the UK and the EU still presents opportunities to further improve market access for UK steel products, particularly high-value-added steel products.
UK Steel also highlighted that it had worked closely with the European Steel Association (EUROFER) throughout the process, noting that both organizations recognize that the UK and EU steel industries are simultaneously partners and competitors.
The statement further emphasized that robust trade defense measures against unfair imports should go hand in hand with maintaining open, fair, and commercially sustainable steel trade between the UK and the European Union.
UK Steel concluded by reaffirming its commitment to continue working with the UK government to secure the best possible outcome for the country's steel producers.
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