UK to Extend Steel Import Safeguards on Select Products

SEATTLE (Scrap Monster): The UK's Department of International Trade announced its decision to extend steel import safeguards and tariff rate quotas for a period of three years on select product categories. These include products such as hot-rolled sheets and strips, cold-rolled sheets and rebars, whose import volumes have registered significant surge over the years.

The imports of most product categories including metallic coated sheets, tin mill products and stainless bars will be freed from quotas. According to the Trade Remedies Investigations Directorate (TRID), it has proposed to revoke safeguard measures on 135 products and extend them on 102 products. The preliminary decision is subject to public consultation and final government approval, TRID noted.

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The products that will still be included under the safeguards will be subject to tariff rate quotas and a safeguarding duty of 25%.

Meantime, the industry groups representing steel producers in the UK urged the country’s government to extend the safeguards on all products for an additional period of three years. They termed TRID’s preliminary decision to relax the safeguards as a blow to the entire UK steel sector and the thousands of people employed by the sector.