"With 80% of British exports going to the EU, the change poses the UK steel industry's biggest ever crisis, according to the lobby group representing the sector. In its plan presented to the European parliament on Tuesday, the European Commission also proposed slashing the existing quota for duty-free imports and obliging foreign suppliers to declare where the steel was melted and poured to prevent China sneaking products in through other countries."
"The European steel industry was on the verge of collapse we are protecting it so that it can invest, decarbonise, and become competitive again, the bloc's commissioner for industry , Stephane Sejourne, told an event in Strasbourg. The proposals are designed to replace a quota system that has been in operation for the last seven years and which is due to expire in 2026 and is now seen as not fit for purpose."
"He called on the government to recognise the urgent need to put in place its own measures to defend the UK steel industry which is still reeling from a 25% tariff imposed by Trump earlier this year from the threat of millions of tonnes of world steel diverted away from US and European markets."
The EU will match US steel tariffs by doubling levies on steel imports to 50% and tightening import controls. The European Commission proposes slashing the duty-free quota and requiring foreign suppliers to declare where steel was melted and poured to prevent routed Chinese products. The measures aim to curb Chinese dumping and to strengthen the EU position in negotiations with the US. The current quota system due to expire in 2026 would be replaced to support investment, decarbonisation, and competitiveness. With 80% of UK steel exports going to the EU and an earlier 25% US tariff, the UK industry faces an acute crisis and risks large diverted import volumes.
Read at www.theguardian.com
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