UK Cuts Tariff-Free Steel Import Quota 51% as Industry Complaints Force Softer Curbs
Updated
Updated · Bloomberg · Jun 25
UK Cuts Tariff-Free Steel Import Quota 51% as Industry Complaints Force Softer Curbs
1 articles · Updated · Bloomberg · Jun 25
Summary
From July 1, the UK will allow a 51% smaller tariff-free steel import quota, easing back from the 60% cut it had originally proposed.
The Department for Business and Trade changed the plan after steel-using businesses warned the tougher curbs would hurt their own production while trying to support domestic steelmakers.
Several steel products that cannot be made in the UK will be exempt from the new safeguards, but imports outside the quotas will still face 50% tariffs.
The revision underscores the government's balancing act between shielding the UK's struggling steel industry and limiting damage to manufacturers that rely on imported supply.