Steel import tariffs extended for two years
Tariffs on steel imports that were due to expire will be retained for a further two years, the UK government has said.
International Trade Secretary Anne Marie Trevelyan said she was extending tariffs because of "global disruptions" to energy markets and supply chains.
Prime Minster Boris Johnson has said the move will protect British steel makers which are under increasing pressure from soaring energy prices.
But there were concerns such a decision could breach international law.
Ms Trevelyan said the decision "departs from our international legal obligations" of a World Trade Organization agreement.
The limits on steel imports were first introduced by the European Union in 2018 in response to tariffs imposed by the Trump administration. The controls were mirrored by the UK after Brexit.
The restrictions, which add a tax to steel imports once a certain quota has been reached, are known as "steel safeguards" because they are designed to protect the domestic market from surges of cheap steel from overseas.
Speaking at the G7 summit in Germany at the weekend, Prime Minister Boris Johnson said keeping the import controls on foreign steel would protect British producers which are already under pressure from rising energy prices.
FROM SCC NETWORK
News Articles
- Scottish Enterprise launches digital tool to accelerate businesses towards net zero
- Britain’s ‘great unretirement’: cost of living drives older people back to work
- EXCLUSIVE: New collaboration to boost business and trade between Scotland and Turkey
- It’s time for more flex as agile working takes centre stage
- Perthshire hotel offers summer sessions with sporting professionals
- RIVER TAY SPORTS HUB LAUNCHES NEW WEBSITE
- Family-run Scottish hotels recognised with business accolade
- Half of small business owners forced to increase prices, report finds
- Sizewell C nuclear plant gets go-ahead from UK government
- ScotRail announces reintroduction of timetable
- UK inflation reaches new 40-year high of 9.4%
- CGI ecosystem partner search
- First direct China-Scotland container service launched
- Eurozone raises interest rates for first time in 11 years
- UK debt interest reaches record high as inflation soars
- Recovery Loan Scheme Extended
- Balhousie Care Group bolsters senior team with appointment of leading figure in health and social care
- Scottish Law Firm Supports Charity Aiding Vulnerable People Around the World
- Big Butterfly Count and Tayside Recorders' Day Call to Action
- Businesses who import or export goods are urged to prepare for UK customs declaration system changes
- Raft of Promotions and New Talent Intake for Azets in Scotland
- Blair Castle International Horse Trials 2022
- The WM Mann Foundation Supports Glenalmond Education for Ukrainian pupil
- Binn Group Golf Day Champions Local Charities