Change being considered amid global glut driven by supplies from China along with a rise in protectionism
The UK is expected to reduce the amount of foreign steel it allows in tariff-free, as the government looks to protect its domestic industry amid a global glut and a rise in protectionism.
Ministers are considering changing the quota system that allows a quantity of the metal to be imported before imposing a 25% levy on anything above that level.
Lower tariff-free quotas could be announced in April, for implementation from 1 July, according to three people with knowledge of discussions.
The development comes amid a surfeit of steel driven by supplies from China, which is by far the world’s largest producer. Chinese steel exports hit yet another all-time high in December, while other producers such as Vietnam, Korea and Turkey are also trying to find customers.
