‘Thousands of UK jobs at risk’ as tariffs could see cash spent abroad | UK | News
thousands of british works Reportedly compromised by New England steel tariffs. The Labor Government is reducing the duty-free quota level for steel importers by 51% from current arrangements from this month.
It will also double imports taxes Steel arriving in the UK at levels ranging from 25% to 50%. The move is part of the Government’s aim to ensure that 50% of the steel used in the UK is produced in the country, up from 30%. But MPs have raised concerns that the move could cost thousands of jobs, with no exemptions for special steel produced overseas alone.
Aerospace and defense industry leaders have warned the measures could force them to buy parts from other countries to avoid costs raised by Government tariffs. Ministers insist tariffs will only apply to steel grades produced in the UK. Industry leaders say special steels and alloys used in aerospace and defense are mistakenly included in the tariffs.
Aerospace and defense trade body ADS said: Times Some special steel grades cannot currently be produced in the UK.
He added: “The risk now is that suppliers will create a duty-free, fully fabricated product overseas and we will compromise the aerospace supply chain in the UK.”
ADS said there had not been much consultation on the tariffs and that by the time it came it was “too little, too late”.
Shadow Business Secretary Andrew Griffith warned in June that a 50% tariff rate would “cause huge damage to British manufacturing, housebuilders and those building the country’s infrastructure”.
Speaking in Parliament, he welcomed “concessions” made by the Government, but said concern remains over some steel import codes used by aerospace and space, arguing defense firms would face higher costs.
Trade Secretary Sir Chris Bryant told MPs: “Canada, the US and the European Union have already introduced similar tough measures to protect their industries.
“So if we do nothing or delay the implementation of new measures, we will instantly become a global dumping ground for cheap steel around the world. Again, this will mean the end of UK steel production.”
Sir Chris added: “Total quota volume will now be 3.2 million mt, which represents an increase of over 560,000 mt of steel that can be imported tariff-free compared to the provisional volumes we have announced, a significant increase of 21%.
“After listening to members and the industry, we have increased quotas on a number of occasions to more accurately protect categories of steel produced in the UK.
“Some of the changes reflect the fact that the European Union remains our largest export market for steel and we have highly interconnected supply chains.”
