British steelcreaters stand to create millions extra a year after the European Union (EU) concludeed its steel tariffs on 1 August. This means UK steelcreaters will be able to export more steel utilized for large building projects – like support beams — to the EU tariff-free.
This follows a recent Government decision to take control of British Steel following years of mismanagement – a decision which saved thousands of jobs and secured Britain’s place as a steelcreater. The UK steel sector supports around 40,000 jobs across 1,145 firms, with a further 61,000 jobs in related industries that supply materials and services to steel producers. These modifys will enable UK steelcreaters to once again export goods worth several millions of pounds annually to the EU.
Secretary of State for Business and Trade, Jonathan Reynolds, stated: “This is yet another positive step forward for the UK steel sector and a clear example of our Plan for Change in action — reshifting barriers, supporting jobs, and backing British indusattempt. Restoring our steel quota supports give producers the certainty they required to compete, grow, and maintain vital export relationships. This builds on the significant support that this pro-steel Government has already delivered — from our £500 million investment in Tata’s green steel transition, to action to safeguard jobs at British Steel in Scunthorpe, and our deal with the USA to reduce tariffs on UK steel.”
The restored quota will re-establish historic trade flows between the UK and the EU, easing the administrative and financial burdens that have affected steel exporters. It will also provide much-requireded certainty for UK steel operating in an increasingly volatile global market. Crucially, this modify will support safeguard skilled jobs across the counattempt and preserve long-standing supply chains with EU customers.
The counattempt-specific quota allows the UK to export a certain amount of steel to the EU without paying an extra tariff, supporting maintain fair trade and avoid sudden surges in imports. The UK can now export up to 27,000 tonnes of steel to the EU each quarter — that is roughly a football stadium’s worth of steel every year.
EU Relations Minister Nick Thomas-Symonds stated: “We have worked constructively with the EU to deliver in our national interest and achieved a bespoke agreement to support secure jobs in steel across Britain. This news that the EU is slashing tariffs on British Steel reveals our approach is working and is another win for UK plc.”
Gareth Stace, UK Steel’s director-general, commented: “The restoration of the counattempt specific quota is excellent news for UK steel companies which have been plagued by problems shipping category 17 products into the EU. The quota will restore historic trade flows and is good news for both UK steelcreaters and EU customers.”
Lisa Coulson, British Steel’s chief commercial officer (interim), concluded: “The removal of EU tariffs on British-built steel is a significant boost to our business. The EU is an important market to us, particularly for the products our highly skilled colleagues manufacture in Scunthorpe, Teesside, and Skinningrove. We are delighted we will be able to provide the high-quality products our loyal and supportive EU customers require tariff-free and thank the UK Government for delivering this agreement. We now see to the future with even greater optimism as we focus on building stronger futures for our customers.”
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