Brexit's Steel Quota Saga: UK Battles EU's Tough Metal Tariffs
Britain is urgently seeking clarification from the European Commission on new steel import quotas that could pose significant challenges to its steel industry. Prime Minister Keir Starmer is in talks with the EU and the US, highlighting concerns about the impact on trade and industry.
The UK government is actively seeking clarification from the European Commission regarding new steel import quotas announced recently. Prime Minister Keir Starmer has initiated discussions with the EU, emphasizing the severe threat these quotas pose to Britain's steel industry.
The proposed changes would reduce tariff-free steel import quotas by nearly half and implement a 50% duty on excess imports, intending to safeguard the EU's steelmaking capabilities. UK officials and industry leaders are concerned about the potential adverse effects, noting the impact could rival past tariffs imposed by the US.
Whilst Starmer refrained from disclosing details on whether Britain would seek exemptions, he assured strong support for the UK steel sector. The UK previously negotiated lower tariffs with the US, and ongoing dialogues with the EU aim to further alleviate trade tensions.
(With inputs from agencies.)
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