EU's 50% Steel Tariff Sparks Trade Tensions with UK — Industry Fears Deep Losses

A worker moves steel in a factory (Credit: AFP News)

KEY POINTS

• The European Union has announced plans to impose a 50% tariff on steel imports that exceed new, reduced quota limits.
• The new tariffs could halve the amount of steel the UK can export tariff-free to the EU.
• The UK Steel industry warned that the measure could trigger 'perhaps the biggest crisis' in its history.

Britain's steel industry is on high alert after the European Union unveiled plans to impose 50% tariffs on steel imports, a move experts say could trigger the sector's worst crisis in decades.