The U.K. government’s efforts to shield Britain’s steelmakers come after the industry was named a "Strategic National Asset," critical for national security last month.Joseph Prezioso/AFP via Getty Images

New UK steel tariffs threaten British manufacturing, industry warns – POLITICO

by · POLITICO

LONDON — New protections for the U.K. steel sector will fuel inflation and threaten thousands of jobs throughout the manufacturing sector, metal importers are warning the British government.

The protections “risk severely disrupting supply chains” serving Britain’s automotive, construction, infrastructure and engineering sectors, Confederation of British Metalforming President Stephen Morley said in a letter to Trade Minister Chris Bryant, shared with POLITICO.

Ministers announced last month that the government is slashing quotas on steel imports by 60 percent, with tariffs outside the caps rising to 50 percent as part of the new strategy to protect British steelmakers from a glut of cheap Chinese exports.