UK plans to impose carbon tax on steel imports

The UK aims to protect the steel industry from low demand and high energy prices by creating an mechanism similar to the Carbon Border Adjustment Mechanism implemented by the European Union. With this mechanism, which is thought to be a part of the British Steel and Tata Steel UK support package, it is aimed to facilitate the competition between UK steel producers and producers in countries with lower environmental standards than the UK.

It is also among the information that Chancellor of the Exchequer Jeremy Hunt, who took steps to protect the steel industry by introducing carbon taxes on steel imports, will also offer additional assistance to the steel industry in electricity payments.