THE UK Government has announced that steel producers across the UK will benefit from stronger trade safeguards that better protect against surges in cheap imports.
Following a recommendation from the Trade Remedies Authority (TRA), the business secretary has confirmed the final decision on the current steel safeguard. The changes to the steel safeguard are designed to make the measure more effective by slowing future increases, capping certain import levels, and tightening country-specific limits to ensure UK producers won’t be undercut while still making sure the country has a ‘steady and reliable’ supply.
This decision builds on the trade strategy published last week, which set out how the UK Government will strengthen trade defences to protect key industries like steel.
Business and trade secretary Jonathan Reynolds 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. These measures back our producers and the thousands of families and communities who rely on steel production in the UK.
“We’ve taken decisive action to protect the UK market and level the playing field, and we’ll go further with our new Steel Strategy to build a stronger, more competitive future for British steel making central to our Plan for Change.”
