The UK government has unveiled a multibillion-pound plan to strengthen its steel industry and maintain its global competitiveness.
The UK government has announced a multibillion-pound plan to strengthen its steel industry and maintain global competitiveness. The move comes as concerns rise over the impending 25% U.S. tariffs on British steel and their potential impact on exports and domestic pricing.
To safeguard the industry, the UK government is injecting £2.5 billion into the sector. It is also prioritizing infrastructure projects to boost domestic production. Additionally, the British Department for Business and Trade is seeking public feedback on a new steel strategy. A consultation has been launched to address key challenges such as high electricity costs, unfair trading practices, and scrap metal recycling.
The urgency of these measures is driven by the fast-approaching deadline for U.S. tariffs on steel imports, set to take effect on 12 March.
British Business Secretary Jonathan Reynolds has warned that the tariffs could increase costs for U.S. taxpayers. He argues that both the UK and the U.S. have a "mutual interest" in negotiating an exemption, particularly as the UK supplies specialized steel products like submarine casings from Sheffield.
There are growing concerns that the U.S. tax hikes could severely impact the UK steel industry, which contributes £400 million annually to transatlantic trade. While the U.S. accounts for just 10% of UK steel exports, it remains crucial for specialized producers.
Former U.S. President Donald Trump, who introduced the tariffs, has insisted they will be enforced "without exceptions or exemptions."
As the tariff deadline looms, the UK government is taking proactive steps to protect its steel industry, ensuring its long-term sustainability and global competitiveness. However, the full impact of the U.S. tariffs remains to be seen.
Russia’s defense ministry has accused Ukraine of carrying out four separate attacks on its energy facilities within a 24-hour period, alleging violations of a U.S.-brokered moratorium aimed at preventing strikes on each other’s critical energy infrastructure.
Sporting legends, rising stars, and international guests gathered in Madrid for the 24th Laureus World Sports Awards, where the global sporting community came together to celebrate a year of exceptional achievements, inspiring moments, and the unifying power of sport.
South Korea’s former President Yoon Suk Yeol, who was ousted from office, appeared at the Seoul Central District Court on Tuesday to attend the second hearing in his ongoing criminal trial, where he faces serious charges of insurrection.
A U.S. airstrike on Yemen’s Ras Isa oil port has killed at least 74 people and injured 171 others, marking the deadliest known attack in President Trump’s renewed campaign against Houthi rebels and raising alarm over the widening scope of the conflict.
Iranian Foreign Minister Abbas Araqchi has signaled that a nuclear agreement with the United States remains within reach, provided Washington adopts a realistic and constructive approach ahead of the second round of negotiations with the Trump administration.
A mob attack on an Ahmadi place of worship in Karachi has left one man dead, highlighting ongoing persecution of the minority group.
A Russian court has sentenced 19-year-old Darya Kozyreva to nearly three years in prison for protesting the war in Ukraine using poetry and graffiti.
The new U.S. ambassador to Japan has called for closer military coordination with Tokyo, framing the alliance as crucial amid rising regional tensions and ongoing trade disputes.
Students in Serbia have rallied outside a police station as Belgrade University’s rector is questioned over support for anti-government protests.
OpenAI has unveiled a new option called Flex processing, an API service designed to provide more affordable AI model usage in exchange for slower response times and occasional resource unavailability.
The Russian ruble has emerged as the top-performing currency globally in 2025, registering an impressive 38% appreciation against the US dollar since the beginning of the year, according to a report by Bloomberg.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Several regions in Ukraine faced heightened alert on Palm Sunday, as reports of explosions and missile threats drew public attention and official responses.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 16th, covering the latest developments you need to know.
A mob attack on an Ahmadi place of worship in Karachi has left one man dead, highlighting ongoing persecution of the minority group.
A Russian court has sentenced 19-year-old Darya Kozyreva to nearly three years in prison for protesting the war in Ukraine using poetry and graffiti.
The new U.S. ambassador to Japan has called for closer military coordination with Tokyo, framing the alliance as crucial amid rising regional tensions and ongoing trade disputes.
Students in Serbia have rallied outside a police station as Belgrade University’s rector is questioned over support for anti-government protests.
Russian Foreign Minister Sergey Lavrov extended Moscow’s support for the ongoing indirect nuclear talks between the United States and Iran, offering to mediate or assist in any way that would be beneficial to Tehran and acceptable to Washington.
A mob attack on an Ahmadi place of worship in Karachi has left one man dead, highlighting ongoing persecution of the minority group.
A Russian court has sentenced 19-year-old Darya Kozyreva to nearly three years in prison for protesting the war in Ukraine using poetry and graffiti.
The new U.S. ambassador to Japan has called for closer military coordination with Tokyo, framing the alliance as crucial amid rising regional tensions and ongoing trade disputes.
Students in Serbia have rallied outside a police station as Belgrade University’s rector is questioned over support for anti-government protests.
OpenAI has unveiled a new option called Flex processing, an API service designed to provide more affordable AI model usage in exchange for slower response times and occasional resource unavailability.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment