Company representatives emphasized that under current conditions the sector is at a critical point and may face irreversible consequences if the necessary steps are not taken within two months.
Russell Codling, Market Business Development Director at Tata Steel UK, told Parliament’s Business and Trade Committee on Tuesday that the British steel sector is under pressure due to increasing low priced imports from China. He stated that although the government is working on the issue, there are currently no sufficient mechanisms in place to adequately protect the domestic industry.
Codling recalled that the 25% safeguard duties applied to certain steel products are set to expire in June and emphasized that these measures should be extended or replaced swiftly with a new system. Tata Steel called on the government to expand existing safeguard measures or urgently announce a new regulation regarding import tariffs.
He also highlighted the protective measures implemented by the EU and the US against steel imports and emphasized that the UK should take similar steps. Otherwise, he warned that the British steel industry could weaken significantly within a few months.
The company representative stated that the government has two months to act in order to safeguard the British steel industry, adding that decisions must be implemented by 1 July, as this timeline is critical for both the sector and its supply chains.
Comments
No comment yet.