The United Kingdom has said it will maintain tariffs on imported steel until at least mid-2024 to protect British domestic industry, despite concerns that the measure could run counter to WTO rules, according to the agency. Bloomberg.
The lifting of the tariffs could “deal a severe blow to UK steelmakers,” British International Trade Secretary Anne-Marie Trevelyan told the House of Commons on Wednesday.
The two-year extension of tariffs and quotas on certain steel products comes after Britain announced that it would consult with other countries internationally before making its final decision.
Ms Trevelyan said it was ultimately in the UK’s financial interest. to maintain this “safety net” for local steelmakers.
Source: Capital
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