EU threatens Britain with ‘devastating’ tariffs
The European Union threatens Britain’s steel industry with “existential” tariffs only months after Sir Keir Starmer promises to reset relations with Brussels.
On Tuesday, Brussels was preparing to impose swingeing taxes on all imports that came to the block in the midst of fears they fear that they crushed domestic industries from Asia.
However, British steel manufacturers warned that they would be affected by pressures and faced a blow to many companies at risk of being fatal.
This is because all Britain’s steel exports are currently 78 of them go to the EU or about 1.9 million tons.
The dispute will be seen as a shame for Starmer, Great concessions on fishing and the migration of young people in May to improve their relationship with Brussels after Brexit.
In addition, after being beaten by the country’s steel and automobile manufacturers, another blow to the Prime Minister’s difficulty in reviving the British industry. Donald Trump’s trade tariffs.
Brussels’ steel tariffs have much more damage to President Trump, the trade body, UK Steel, reveals the risk of “terminal için for many companies.
Unlike those sent to the EU, only 7 of the UK’s steel exports are sent to the USA.
Financial Times, the EU’s new “protection measures”, when they exceed a quota determined at the 2013 levels, will bring 50 tariffs to various steel products imported from outside the block.
At the same time, British firms are afraid that strongly high tariffs will encourage foreign exporters to direct their steels to the UK – which weakens the local industry further.
Against this fund, Whitehall officials are trying to secure carving outputs for British companies.
Steel companies also lobbying the government to bring more challenging restrictions to external imports from outside the EU.
Peter Brennan from Steel, UK, warned that plans will potentially provide a “destructive stroke” to the producers.
He said: “These tariffs will be a big problem for British steel companies at a time when they are already under pressure.
“If we cannot take our own quotas about what the EU is doing and cannot continue to export similar skin, it becomes an existential problem for the sector.”
British exports to the block should not contain tariffs within the scope of the Free Trade Agreement after Brexit.
However, Mr. Brennan said that the agreement allowed both parties to keep certain “guarantees” in place.
These quotas are imposed on how much of certain products can be imported from various countries before the higher tariffs begin. The system is very complex and different quotas are applied separately for each product and country.
