LONDON: Britain has published a green paper for the country’s steel industry weeks ahead of schedule due to president Donald Trump’s announcement of fresh tariffs on all steel imports into the United States, the Observer newspaper says.
“The context, both at home and abroad, is behind the sense of urgency that we are demonstrating by bringing forward publication of the strategy,” Business Minister Jonathan Reynolds told the Observer last Saturday.
The business department did not immediately reply to a request for comment.
The Labour government previously said it wanted to invest £2.5bil or about US$3.15bil in the steel industry and it would publish a strategy on its plans to boost the sector in the spring.
Reynolds said last Thursday Britain would seek to persuade the US government that its steel and aluminium products should avoid tariffs due to the sensitive role they play in the US defence sector and its manufacturing supply chains.
The Observer said Reynolds published a green paper entitled Plan for Steel yesterday.
It looks into issues facing the industry, such as high energy costs and international turmoil.
Trump said last Sunday he would introduce new 25% tariffs on all steel and aluminium imports into the United States, on top of existing metals duties.
He said earlier in February, when talking about tariffs in general, that he thought something could be “worked out” with Britain.
Britain and the United States trade hundreds of billions of US dollars’ worth of goods and services annually. — Reuters
