LONDON- Britain said it would introduce new regulations to help defend its steel industry after accepting a recommendation from its newly established Trade Remedies Authority to scrap some quotas on imports.
Trade minister Liz Truss said the government only had the option of accepting or rejecting the recommendations in full, which said quotas and tariffs should be retained for 10 categories of steel for three years, and revoked in nine others.
However the minister said the government would now introduce a public notice to launch a temporary extension on a further five of the 19 steel products for one year. “Imports outside the quotas will face a tariff of 25 percent,” she said.
The European Union introduced quotas in 2019 when Britain was still in the bloc to guard against steel shipments normally destined for the United States being redirected to Europe after US President Donald Trump imposed 25 percent tariffs. – Reuters
