UK steel producers to enjoy tariff free access to the US market again
I'm delighted by today's news that after months of talks the Trade Secretary has secured a deal on US steel tariffs. This means we will now be able to export significant amounts of UK steel to America without them being subject to punitive tariffs of up to 25%.
The benefits of this deal will be felt by steel companies, suppliers and their employees here in Stocksbridge and right across the UK - it is immensely welcome.
I take every opportunity to meet with ministers from across the Government so that I can make the case for UK steel. And I've been hugely reassured by their clear understanding and recognition of the industry as an asset of strategic national importance. Most recently I met with the Secretary of State in December, and again in January, to ask her to work as hard as possible to get this deal. So I would like to thank her and the negotiating team for all they have done to persuade the US to reach this important agreement.
The global steel market is being undermined by unfair trade practices by countries like China, so it's more important than ever that we work with our trusted allies to promote free and fair trade. Steel manufacturers such as Speciality Steels in Stocksbridge produce high-quality components that are used here in the UK and across the world. But our steel is not competing on a level playing field. Our steel has half the carbon footprint of equivalent Chinese imports, so I am also reassured that both sides will continue to work closely so that the wider issues of global steel excess capacity and market distorting practices can also be addressed.
This deal is great news for companies like Stocksbridge Speciality Steels, and for the wider UK steel industry which supports the jobs of around 80,000 people.
