STORY
The Government is consulting industry over its proposed steel tariff regime after warnings from steel-consuming businesses about potential cost increases. Reuters reported that ministers are considering whether changes are needed before the new regime is due to begin on 1 July.
The plan would reduce the amount of steel that can be imported tariff-free and increase tariffs on imports above the quota. Domestic steel producers have welcomed stronger protection, but some manufacturers, construction firms and engineering businesses have warned of disruption and higher costs.
The issue leaves ministers balancing support for British steelmakers against the wider needs of businesses that rely on steel inputs. Any adjustment would be watched closely by both industry and unions, particularly after the Government’s recent interventions in the steel sector.