Post-Brexit trade tensions are at risk of being blown open after the EU announced sweeping steel tariffs which would have a “disastrous” impact on British industry.
Proposals for 50 per cent tariffs on all steel sold into the EU would land a fresh blow on British industry, which is already suffering due to the US refusing to scrap its own import levies.
There is also uncertainty among UK officials as to whether the measures would be in breach of the UK-EU post-Brexit trade agreement.
The new import regime, proposed by the EU to replace the current system on June 30 2026, would cut the tariff-free import quota by almost 50 per cent, from 33 million tonnes to 18.3m.
Outside of this quota, tariffs of 50 per cent will be slapped on all third countries not inside the European Economic Area.
The bloc said the proposals, which are yet to be approved by the European Parliament, will be compatible under trade rules.
UK seeking ‘urgent clarification’
But the UK Government said it is seeking “urgent clarification” as to the impact it would have on Britain and how it would interact with the Trade and Cooperation Agreement, signed as part of the Brexit deal.
This agrees that all goods imported from the UK to the EU, and vice versa, remain tariff free.
The government said it was keeping all options under review to defend the steel industry.
With 80 per cent of all UK-made steel exported to Europe, the measures could wipe out the British industry.
Gareth Stace, director-general of industry lobby group UK Steel, told the Financial Times the tariffs threatened to be a “disaster” for the UK.
“This is perhaps the biggest crisis the UK steel industry has ever faced,” he said. “Government must go all out to leverage our trading relationship with the European Union to secure UK country quotas or potentially face disaster.
Charlotte Brumpton-Childs, of the GMB union said: “These tariffs are a hammer blow to UK steel industry as EU is our main export market.
“The Government must act swiftly to ensure UK is given the appropriate quotas.
“This could be the end of steel making in UK if proper safeguards aren’t secured.”’
‘Vital to protect trade’
UK Industry Minister Chris McDonald is due to meet with steel representatives on Thursday to discuss the announcement.
square NEWS 14 million drivers to get £700 car finance compensation - what happens next
Read More
Responding to the news from the European Commission, he said: “We will always defend our critical steel industry which is why we are pushing the European Commission for urgent clarification of the impact of this move on the UK.
“It’s vital we protect trade flows between the UK and EU and we will work with our closest allies to address global challenges rather than adding to our industries’ woes.
“This government has shown its commitment to our steel industry by securing preferential access to the US market for our exporters, and we continue to explore stronger trade measures to protect UK steel producers from unfair behaviours.”
The steel industry has already faced the blow of 25 per cent tariffs imposed by US President Donald Trump after failed attempts by Prime Minister Sir Keir Starmer to reduce the levies to zero.
Hence then, the article about brexit row looms over disastrous eu steel tariffs was published today ( ) and is available on inews ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Brexit row looms over ‘disastrous’ EU steel tariffs )
Also on site :
- Driver dies in fiery freeway crash on Christmas Eve near Sacramento
- 2 people hurt in plane crash into North Sacramento field
- Trump’s Christmas Eve calls with children asking about Santa’s whereabouts are steeped in partisan politics