""The total EU market for structural steel is eight million tonnes per annum, of which the UK is currently granted a tariff-free quota of 108,000 tonnes - less than 2% of the market," Boyd said. "Conversely, the UK market is 800,000 tonnes per annum while EU producers enjoy a tariff-free quota of 680,000 tonnes, equivalent to 85% of the UK market. Hardly fair trade.""
"Boyd, who earlier this year campaigned to save British Steel's blast furnaces at Scunthorpe, said the proposed changes would leave British exporters "virtually shut out" of the European market while allowing EU producers near-unrestricted access to the UK. "All UK producers will be impacted by this change in policy," he said. "Not only will exports be hit, but we could see a flood of imported steel if we don't tighten our own trading measures.""
Brussels will halve the UK's tariff-free quota for structural steel exports and apply a 50% tariff on shipments above that limit as part of measures to curb Chinese steel imports. The total EU market for structural steel is eight million tonnes per annum, with the UK currently granted a tariff-free quota of 108,000 tonnes, less than 2% of the market. The UK market is 800,000 tonnes per annum while EU producers enjoy a tariff-free quota of 680,000 tonnes, equivalent to 85% of the UK market. The changes risk virtually shutting British exporters out of Europe, increasing imports and harming manufacturers and supply chains. Calls have been made for the Government to seek exemptions or impose reciprocal tariffs to restore balance and protect UK producers.
Read at Business Matters
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