Steelmaker urges action in response to tariff plans

CARDIFF-BASED steelmaker 7 Steel has become the latest producer to raise concerns for the sector posed by EU plans to increase tariffs and lower the quota level for steel imported into the single market.

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As reported in yesterday's edition, Rajesh Nair, chief executive of Tata Steel UK, has urged UK ministers to safeguard the domestic market after the EU announced plans to impose 50% tariffs on steel, double the current level of 25%, while cutting tariff-free import volumes to 18.3 million tons a year - a 47% reduction.

The EU remains the destination for nearly 80% of UK steel exports, including a significant share from Welsh producers.