Stories

Thu, 19 Mar 2026

Thu, 19 Mar 2026 UK sets target to boost steel making and cut imports

Up to half of steel used in Britain should be made there, the government says, as it announces its steel strategy.

* The UK government has set a target for domestic steel production, aiming for up to 50% of the country's steel needs to be met by British suppliers.
* Higher taxes will be imposed on imported steel, with a new tariff of 50% to be applied to any imports above reduced quotas.
* Quotas on imported steel will be lowered by 60% from current levels, effective in July.
* The government is considering a "transitional approach" that would exempt goods under existing contracts from the higher tariffs.
* Companies may pass on the increased costs to customers, potentially leading to price increases for UK consumers and businesses.
* The industry welcomed the measures as a shield against cheaper foreign steel, while opponents argue they will hurt economic growth and drive up prices.
* The government is looking to maintain supply of steel and minimize impacts on the wider economy.
* Shadow business secretary Andrew Griffith criticized the move, saying it would increase costs for the construction industry and lead to less infrastructure investment.