Government considers future protections against cheap foreign steel imports

EXISTING SAFEGUARDING PROTECTION IS DUE TO END NEXT YEAR

- By IVAN MORRIS POXTON

THE Government has opened a call for evidence to hear steel industry views on future protections against cheap foreign steel imports.

The six-week call for evidence is intended to shape new future-ready trade measures to protect UK steel producers, jobs and the wider supply chain.

A current temporary safeguard mechanism must end in June 2026, due to World Trade Organisation (WTO) rules.

The Government's evidence call comes as the UK-US deal comes into force, exempting UK steel from US tariffs of up to 50 per cent on steel imports.

Changes to existing market quotas for foreign producers, greater electricity price compensation for industries, and a new digital steel catalogue to make UK-made steel products easier for contractors to find are also new significant developments for the industry.

British Steel remains under Government direction after emergency legislation to prevent Scunthorpe’s blast furnaces from closing. Jingye Group still own it.

British Steel recently secured a £500m new supply contract with Network Rail. Taking effect from July 1, it will last five years.

STEEL PROTECTIONS