UK international trade secretary Anne-Marie Trevelyan has announced that the UK government will extend safeguard measures on five steel categories for a further two years from July 1, 2022 until June 30, 2024, to protect the UK steel sector.
The product categories are tin mill products, non-alloy and other alloy quarto plates, merchant bars and light sections, non-alloy and other alloy wire rod, angles, shapes and sections of iron or non-alloy steel. The UK safeguard measures on 10 steel product categories have already been extended to 2024, as SteelOrbis previously reported.
In addition, the country also increased the quota volume of Category 12A (merchant bars and light sections) taking into account the supply concerns of downstream users.
Meanwhile, the UK government also decided to suspend the safeguard measures for steel from Ukraine for the next two years. It has already reduced all tariffs under the UK-Ukraine free trade agreement to zero to support Ukraine’s economy during the war against Russia. This decision means Ukrainian steel will not be subject to the additional safeguard quotas and duty.