UK Plans to Double Steel Import Tariffs to 50%

LootboxPhobia · 2026-03-17T07:40:40+00:00

The UK is planning to raise steel import tariffs to 50% to protect its struggling steel industry, with an announcement expected Thursday. This strategy aims to address high energy costs and cheap import competition, supporting jobs and the economy.

LootboxPhobia

2026-03-17 07:40:40

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Investing.com – According to Politico on Monday, the UK plans to double steel import tariffs as part of a broader strategy to protect its struggling steel industry.

Sources familiar with the matter say the government expects to significantly cut import quotas for many overseas products while raising tariffs above the quotas to 50%. An announcement is expected to be made on Thursday.

This move will bring the UK roughly in line with the EU and the US.

The sector supported 37,000 jobs in 2024, accounting for 0.1% of the UK economy’s total output. The industry has been struggling with high energy costs and fierce competition from cheaper global imports, especially from China.

These pressures have led to the two largest steel producers in the country falling into financial trouble. Tata Steel has shut down two blast furnaces at the Port Talbot plant, and the government has had to take control of UK Steel to prevent its Chinese owner, Jingye Group, from closing its plant in Scunthorpe.

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