• The administration announced that import tariffs on steel will remain in place for two years.
• The international trade secretary stated that protecting steel producers was in national interest.
• UK Steel previously stated that lifting the import restrictions might result in damage of millions.

The administration announced that import tariffs on steel that were set to expire will remain in place for an additional two years.

Anne-Marie Trevelyan, the international trade secretary, stated that although the plans violated the UK’s “international legal commitments,” protecting steel producers was in the “national interest.”

The decision, she continued, was made as a result of “global disruptions” to the energy markets and supply networks.

Rising energy costs are putting pressure on British steel makers.

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In some regions of the UK, where it generates $2 billion in revenue and employs 34,000 people, steelmaking is a major sector.

The government has warned that without curbs, the supply of steel entering the UK may increase significantly, damaging British businesses.

UK Steel previously stated that lifting the import restrictions might result in damage of up to £150 million annually.

Keeping the import restrictions on imported steel will benefit metal makers, according to Prime Minister Boris Johnson, who was speaking at the G7 conference this past weekend in Germany.

However, there were worries that such a move might violate international law because the issue of whether to extend taxes on steel imports was considered as potentially violating WTO agreements.

The judgement “departs from our international legal duties” under a WTO agreement, according to Ms. Trevelyan.

But occasionally, she continued, “problems may occur where the national interest necessitates action to be taken.”

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