Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK government confirms tighter steel import safeguards from 1 July to protect domestic industry

by June 30, 2025
June 30, 2025
UK government confirms tighter steel import safeguards from 1 July to protect domestic industry

The UK government has confirmed it will introduce a new set of strengthened steel safeguard measures from 1 July 2025, acting on urgent recommendations made by UK Steel amid growing concerns about a spike in redirected foreign imports.

Business and Trade Secretary Jonathan Reynolds announced the changes today, which follow calls from UK Steel to take immediate action to protect domestic producers. The adjustments include a significant tightening of the steel import quota liberalisation rate from 3% to just 0.1% year-on-year—a move designed to counter the surge in imports that have been diverted away from the US market following President Trump’s imposition of new tariffs on steel products.

The government has also agreed to implement a cap on residual quotas, ensuring that individual countries cannot dominate market access and displace UK-manufactured steel. Country-specific import limits are to be made more stringent, while rules will be updated to prevent unused quarterly quotas from being carried over, and stop countries with dedicated quotas from dipping into residual allocations in the final quarter.

These changes mirror similar safeguards adopted by the European Union and are intended to shield UK producers from unfair competition and unsustainable price pressures caused by heavily subsidised foreign steel.

Welcoming the announcement, UK Steel Director-General Gareth Stace said the decision was “a swift and decisive move in support of British industry” and highlighted its urgency in light of steel redirected away from the US market flooding global supply chains.

“Jonathan Reynolds has shown that he is on the side of British industry by implementing these urgent safeguards,” Stace said. “This will help diminish the injury caused to UK steelmakers by a spike in redirected imports following the US steel tariffs. It sends a strong message to investors that the UK is committed to building a positive and stable business environment for industry.”

Stace added that while the tightened safeguards were a vital step forward, the government must now focus on developing a long-term trade defence mechanism to take effect when the current system expires at the end of next year.

The steel safeguards form part of a broader strategy to ensure the competitiveness of British manufacturing in a rapidly changing global trade environment. With steel supply chains facing ongoing turbulence and oversupply from state-subsidised producers, the UK sector has repeatedly called for robust trade defence tools to secure its future.

The announcement is likely to be welcomed by steel producers and workers across the UK, particularly in areas such as South Wales, Yorkshire, and the Midlands where the industry remains a critical economic pillar.

The government said it remains committed to supporting strategic sectors and ensuring the UK remains resilient in the face of global market disruption.

Further policy details are expected to be outlined in the upcoming Trade Strategy, due later this summer, which will lay the foundation for post-Brexit trade remedies and international competitiveness.

Read more:
UK government confirms tighter steel import safeguards from 1 July to protect domestic industry

0
FacebookTwitterGoogle +Pinterest
previous post
Iran’s nuclear capabilities crushed, but regime’s desire for the bomb may persist
next post
Iran acknowledges death toll from Israel’s strike on notorious Evin prison

You may also like

Driving Customer Engagement Through Innovative Business Strategies

May 23, 2023

New CBI Chief has concerns over organisation’s survival

February 8, 2024

Buoyant NatWest to return billions to shareholders

July 29, 2022

NatWest poised to report biggest profits since 2008...

February 13, 2023

How AI is changing the IT support industry

September 5, 2024

BGF invests £3.4 million in innovative carbon capture...

July 27, 2023

Workplace Accidents and How to Prevent Them

March 13, 2023

Holiday Inn hotels hit by cyber-attack

September 7, 2022

How to Estimate the ROI of Intelligent Automation...

April 14, 2025

Lloyds will not delay closures of last banks...

April 5, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • CAFE Standards

      June 30, 2025
    • Trump signs order lifting sanctions on Syria

      June 30, 2025
    • Trump’s ‘big, beautiful bill’ hits another snag in House as conservative caucus raises red flag

      June 30, 2025
    • ‘Antisemitic’ British band banned from US after viral ‘death to the IDF’ festival chants

      June 30, 2025
    • This Harm Reduction Innovation Is Already Saving Lives

      June 30, 2025
    • Ellingburg v. United States Brief: Criminal Restitution Counts as Criminal Punishment

      June 30, 2025

    Categories

    • Business (8,347)
    • Investing (2,089)
    • Politics (15,881)
    • Stocks (3,180)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved