EU steel tariff hike threatens 'biggest crisis' for UK industry

Contributing sentiments towards policy:

58% : The EU is the UK's most important steel export destination, valued at around $3 billion and accounting for 78% of the steel products the UK produces for overseas markets.
58% : Liam Bates is UK managing director at Marcegaglia in Sheffield, which makes stainless steel products and exports them to the EU.
54% : "Across the world, we are experiencing and responding to overcapacity, unfair competition, state support and lower prices," said Stphane Sjourn, European Commission's Vice President for Prosperity and Industrial Strategy.
54% : Industry Secretary Chris McDonald said: "It is important to protect trade flows between the UK and the EU and we will work with our closest allies to tackle global challenges rather than adding to the difficulties for our industry." "This Government has demonstrated its commitment to the steel industry by ensuring exporters have preferential access to US markets.
52% : At the same time, he said he was concerned about future trade with EU customers.
49% : The government took control of the Chinese-owned Scunthorpe factory earlier this year, and Liberty Steel plants in Rotherham and Stocksbridge collapsed into government control last month.
48% : The European Union (EU) announced plans to increase tariffs on imported steel.
45% : The EU is proposing to reduce import duty-free quotas to 18.3 million tonnes per year, a 47% decline from 2024 levels.
44% : Mr Stace has now warned of EU action to "redirect millions of tonnes of steel to the UK", which could be "a dead end for many of our remaining steel companies".
40% : On his way to India on Tuesday, the Prime Minister said there would be "strong support" from the Government for the UK's steel industry, which could be severely affected by EU tariffs.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.