🚨 UK Steel Industry at Risk! 🚨
Big changes could be coming for Welsh steel makers, as the EU plans to hike tariffs and slash import quotas. With almost 80% of UK steel exports destined for the EU, the future looks a bit rocky.
Tata Steel and 7 Steel are ringing alarm bells, urging the UK Government to stand their ground. The EU wants to bump tariffs to a whopping 50% and chop tariff-free imports down to 18.3 million tonnes. The fear? This could flood the UK with redirected steel from other nations like China.
🔨 The stakes are high! Trade wars and protectionist measures are becoming the norm, but Wales must protect its steel industry. Total global steel overcapacity is expected to balloon by 2027, partly due to state-backed Chinese producers.
🔋 There is a silver lining, though. UK steel makers, including Tata and 7 Steel, are leading the way in eco-friendly practices by shifting to electric arc furnaces, aiming for greener production methods.
Tata and 7 Steel emphasise the urgency! With jobs and communities at risk, they call for decisive negotiation for fairer trading terms with the EU. The pressure is on the UK Government to bolster domestic trade safeguards and generate support for key industry players.
7 Steel’s Carles Rovira says, “This is a critical moment. Without strategic intervention, decades of progress in steel production could unravel. We need the UK Government to negotiate specific EU quotas and buffer domestic policies to protect jobs and community futures.”
🤝 There’s a push for clarity and action, with local unions and industry bodies prioritising inclusive decision-making.
Let’s hope a fair deal can be reached to keep Welsh steel on solid ground. Share your thoughts below!
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