UK Seeks Views on Steel Trade Protections Amid Global Trade Shifts

The UK government is advancing a comprehensive trade strategy aimed at protecting vital industries such as steel and boosting British business amid global economic uncertainties. Central to this effort is a call for industry input to develop long-term trade protections for the steel sector, especially as current safeguard measures expire in 2026 and cannot be extended. This initiative builds on a recent deal with the United States that removes steel tariffs on UK products, while other countries still face significant tariffs. The new trade strategy also introduces expanded export finance, including a £5 billion Ricardo Fund to address regulatory challenges, and increases UK Export Finance capacity to £80 billion, with a focus on aiding smaller exporters. Additionally, reforms to the Trade Remedies Authority aim to create a more agile, assertive, and accountable framework to defend against cheap imports, particularly from markets affected by U.S. tariffs. The government emphasizes quicker, practical trade deals with countries like India and the Gulf Cooperation Council and aligns trade policy with national priorities such as green growth and services to ensure Britain's resilience in a shifting global landscape.