The UK tightens quotas on steel imports from Vietnam, South Korea, and Algeria

The government is lowering steel import limits to protect the domestic industry from oversupply

The UK plans to introduce tougher-than-expected restrictions on steel imports from Vietnam, South Korea, and Algeria. This move is intended to protect the national steel industry from the effects of the global trade conflict and the redirection of cheap products from other regions, Reuters reports.

Despite previous recommendations from the Trade Remedies Authority (TRA), Trade Minister Jonathan Reynolds announced his intention to reject the proposed quotas, calling them too lenient. The TRA had envisaged a 40% limit on the residual quota for each country, but the government plans to reduce these figures to 20% for steel from Vietnam and 15% for South Korea and Algeria. Excess volumes will be subject to a 25% duty.

According to Reynolds, the new measures are aimed at effectively protecting domestic producers while maintaining stable supplies to the British market. The changes are to take effect on July 1, after consultations with members of the World Trade Organization (WTO).

UK Steel Association chief Gareth Stace welcomed the decision, calling it a significant success and a demonstration of the government’s commitment to the industry. He stressed that the new rules will reduce the risk of excess steel being redirected from the US and the EU and help prevent British producers from losing their competitive edge.

This decision is part of London’s broader efforts to support the industry, including negotiations to lift US tariffs and the nationalization of British Steel.

In mid-June, US President Donald Trump and British Prime Minister Keir Starmer announced at the G7 summit that they had signed a trade agreement that would reduce import tariffs for the British automotive and aerospace industries. However, the parties are still discussing the issue of steel.