UK Steel Industry Faces Existential Crisis as EU Plans Tariff Hike
The UK steel industry faces an unprecedented crisis due to the EU's proposed tariff increase. UK Steel has warned that this move poses an existential threat, with the UK government scrambling to secure country quotas to prevent disaster.
The EU plans to double tariffs on all steel imports, raising the levy from 25% to 50%, and slash tariff-free import quotas by 44%. This comes at a time when the UK steel sector is already reeling from high energy prices and protectionist trade policies. British Steel, now under government control, is on the brink due to these challenges.
The UK exported 1.9 million tonnes of steel to the EU in 2020, accounting for 78% of all UK steel exports. The EU's changes threaten to redirect cheap Asian steel exports to the UK, further squeezing the UK steel industry. The UK government is pushing the EU for clarification on the impact of these changes, with the EU Commission requesting official clarification from the UK on Monday, April 13, 2025.
The UK steel industry is facing its biggest crisis due to the EU's plan to double tariffs on steel imports. The UK government must act swiftly to secure country quotas and prevent the collapse of the UK steel industry.
