(March 19): The UK government said it will hike tariffs on steel imports and cut import quotas, as it seeks to boost the country’s ailing domestic steel industry amid fierce global competition. Quota levels for steel imports will be reduced by 60% compared to current arrangements from July 1, and tariffs on steel imports outside of the quota will increase to 50% from 25%, the Department for Business and Trade said in an e-mailed statement. “Making steel in the UK is vital for national security, critical infrastructure and the wider economy,” Business and Trade Secretary Peter Kyle said in the statement. As part of its wider steel strategy, the UK government said it wanted up to 50% of steel used in Britain to be made in Britain, compared to 30% currently. “With global markets distorted by overcapacity and subsidy, a clear and ambitious domestic strategy is exactly what is required,” said Gareth Stace, director general of UK Steel, the trade association for the industry.

Source: The Edge Markets March 19, 2026 02:27 UTC