10 hours ago
British steel production to be classed ‘critical' to national security
British steel production is to be designated as critical to the UK's national security, under plans to secure billions of pounds of orders for new wind farms, rail links and other infrastructure projects.
In an attempt to prop up domestic production, ministers are drawing up new rules that would allow public bodies to buy British steel, even if cheaper alternatives are available from abroad.
President Trump announced a wave of tariffs during a press conference at the Rose Garden on April 2
BRENDAN SMIALOWSKI/AFP
Industry sources have warned that steel prices in the UK have fallen by as much as 10 per cent because foreign steel exporters had diverted products that had been destined for the US to other markets.
They warned the situation was likely to become critical next month when the European Union clamps down on steel imports to shield its domestic industry from global oversupply and falling prices.
