New trade measures support UK steel

The UK government launched trade measures on July 1, which are designed to benefit UK steel producers.

A warehouse equipment producer uses steel to make essential equipment such as heavy-duty trolleys, packing tables and garment rails. The steel used for this equipment is sourced from various countries, including the UK. The import of cheap steel from outside the UK poses a threat to the viability of the UK steel industry.

The new trade measures protect UK steel from surges in cheap steel imports by restricting how much low-cost steel can be sent to the UK. The Business Secretary created these trade measures off the back of a Trade Remedies Authority (TRA) recommendation. The government say that the capping of steel import levels strikes the correct balance between open trade and maintaining the viability of the UK steel industry in the long term.

Jonathan Reynolds, the Business and Trade Secretary, said:

“This Government is unapologetic in our support for the UK steel sector-it underpins Britain’s industrial strength, our national security, and our status as a global power.”

He said that his aim is for a levelling of the trade playfield for the UK steel trade so that it is stronger in a very competitive global steel market.

The government says it is committed to supporting steel producers and the many families that rely on the production of steel for their income.

All stakeholders in the steel industry are invited to submit their views on how the government should approach the steel sector in the future.

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