Business secretary announces new ‘steel safeguards’ during visit to Tata’s Port Talbot plant
The UK is to double tariffs on Chinese and other foreign steel in a bid to save its remaining plants from collapse.
The new “steel safeguards” came weeks after bosses at Tata Steel in south Wales warned the government they had just two months to be saved.
A target of 50% of steel used in the UK will be made domestically, and 50% of that is to be made in Wales, the business secretary, Peter Kyle, said during a visit to Tata Steel in Port Talbot.
The new £2.5bn strategy aims to increase domestic production by 30%. From July, quotas on imports of many overseas steel products will be slashed by 60%, and duties outside those quotas will be raised to 50%.
