UK Steel: UK also needs exemption from Section 232 to be competitive

Tuesday, 02 November 2021 15:07:12 (GMT+3)   |   Istanbul
       

Gareth Stace, director general of the UK Steel trade association, has commented on the announcement that the EU and the US have reached a deal in relation to the Section 232 steel tariffs in US, with the US to replace the Section 232 tariffs on EU steel and aluminum products with a tariff-rate quota and with the EU to suspend additional duties imposed on US products, as SteelOrbis reported earlier.

“The substantial competitive advantage that this deal provides EU steel producers over UK ones will undoubtedly result in our export orders to the US market being lost to EU exporters until such time as the UK government secures a similar deal. Without this, EU steel landing at US ports will almost always be favored over what will be more costly UK metal. This significantly increases the need for the UK government to deliver the exemption from Section 232 measures we have called for since 2018. The tariffs reduced UK exports to the US by nearly 50 percent, a deal is sorely needed to repair this damage to our export interests,” Mr. Stace said. The US and the UK are consulting on issues related to steel and aluminum, as announced by the US Department of Commerce.

Meanwhile, the European Steel Association (EUROFER) has welcomed the announcement of the agreement which, it said, could be the starting point of a new, transatlantic partnership tackling global trade distortions and climate change together.


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