UK to Hike Steel Tariffs, Cut Import Quotas to Boost Industry.

The article focuses on the UK government's decision to increase tariffs on steel imports and reduce import quotas by 60% starting July 1, aiming to support the domestic steel industry amid global competition and structural decline. Tariffs on steel imports exceeding the quota will rise from 25% to 50%, reflecting efforts to counter subsidized imports, particularly from China. The government’s strategy seeks to raise the proportion of steel produced domestically from 30% to 50%, emphasizing steel’s importance for national security and critical infrastructure. This move aligns with similar actions by the European Union, Canada, and the US, and has been supported by industry representatives such as UK Steel and the GMB Union. [Extracted from the article]