Sumary of UK steel industry fury as government looks to drop EU import restrictions:
- A government body has recommended the removal of limits inherited from the EU on about half of the UK steel imports, in a move that provoked fury from British producers..
- The Trade Remedies Authority (TRA) said on Friday that it would revoke the limits on nine categories of steel product, including some bars and wires, meaning imports will no longer face steep tariffs after quotas are filled..
- It extended limits for three years on another 10 products, including some steel for railways, gas pipes and large sheets..
- The EU introduced the limits in 2019 to protect the industry from a glut of steel products diverted from the US after Donald Trump imposed tariffs..
- Gareth Stace, the director general the industry lobby group UK Steel, said the decision was a “hammer blow”.
- “On their first major test in a post-Brexit trading environment, the UK new system has failed our domestic steel sector,”…