Business Secretary Jonathan Reynolds has supported enhanced measures to protect the UK steel industry by tightening import safeguards in response to fears of cheap steel flooding the market due to global oversupply and US tariffs. By reducing the annual liberalisation of steel quotas from 3% to 0.1%, the UK aims to align with EU standards, aiming to bolster the competitiveness of British steelmakers. Additionally, safeguards will be introduced to prevent particular countries from dominating UK imports and to avoid the rollover of unused quotas, reinforcing protection for the remaining steelmaking capacity.
Business Secretary Jonathan Reynolds' backing of tougher steel import protections reflects a commitment to shield UK steelmakers from global supply threats and economic pressures.
The UK government is reducing steel quota liberalisation from 3% to 0.1%, aligning with EU measures to protect domestic production amidst increasing global competition.
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