UK manufacturers and construction groups will be hit by “significant financial and logistical problems” as a result of ministers’ plans to double tariffs on steel imports from July, the country’s largest business lobby has warned.
The British Chambers of Commerce is seeking an urgent meeting with Peter Kyle, the business and trade secretary, to push him to “reconsider” measures set out by the government in March to protect the steel industry, according to a letter seen by the FT.
From July 1, the UK intends to cut the quota of tariff-free steel by 60 per cent and double tariffs on all other imports to 50 per cent, in a move that the industry has said will hammer manufacturers dependent on steel imports.