The European Union will limit imports of steel into the bloc following U.S. President Donald Trump’s imposition of metals tariffs after EU governments backed the plan in a vote today. It means that all steel imports will be subject to an effective cap until July 2021 to counter concerns of EU producers that European markets could be flooded by steel products that are no longer being imported into the U.S. The European Commission said on Wednesday that EU member countries had backed its plan to impose “safeguards” and that definitive measures would enter force early in February.
UK Steel Director General, Gareth Stace said: “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. 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."
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