UK is preparing to raise tariffs to 50% in the steel sector

According to the planned strategy, quotas for many imported steel products will be reduced, and imports outside these quotas will be subject to a 50% customs tariff. Industry sources state that these tariffs will be aligned with the levels applied in Europe, Canada, and the USA. Limited exemptions will be granted for certain products where there is no domestic production.

Last October, the European Union planned to significantly reduce imported steel quotas and apply a 50% tariff on quota overruns. These measures will replace the existing safeguard measures in both the EU and the UK, which are set to expire at the end of June under World Trade Organization rules.

The long-delayed UK steel strategy will cover new trade defense mechanisms to replace the current “steel safeguards” measures. Tata Steel UK officials had stated that the government has an eight-week window to protect the sector from the pressure of cheap imports.

However, industry sources emphasize that importers will not receive all the exemptions they expect, and that producers in downstream sectors will be at risk if the government implements the restrictions too harshly.

In a statement from the government, it was expressed that a sustainable future for steel production and employment in the UK is aimed for, and the strategy will be published shortly.