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UK Steel welcomes EU safeguard measures

Steel News - Published on Thu, 17 Jan 2019

Image Source: mia.mk
Commenting on the approval of the EU Commission's proposals for safeguard measures on steel, UK Steel Director General, Gareth Stace said "Member State's approval of these definitive safeguard measures is enormously welcome. With the provisional measures due to expire in just two weeks' time it was imperative we saw a positive result today and the swift introduction of longer term measures to provide the necessary protection for the steel sector. The bigger picture of course remains a negative one. No-one wants to resort to trade restrictions but the circumstances unfortunately demand it. These measures are only necessary due to the US's ongoing 25% tax on steel imports, which has disrupted global trade flows, diverting significant volumes of steel from the US to the EU, and hampered our ability to export to the US. The best solution for everyone is the removal of US tariffs, but until that happens these safeguards is essential.”

He added "From a UK perspective, the priority for the Government must be to come forward with a contingency plan for what happens in the event of a no-deal Brexit. At present, no deal means no safeguards for UK companies. This cannot be allowed to happen, particularly on top of all the damage the mayhem of a no-deal Brexit would heap upon the sector - we need certainty now."

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Posted By : Ratan Singh on Thu, 17 Jan 2019
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