The UK’s trade remedies framework has been reformed and now provides greater discretion to the Secretary of State to determine its outcome.
The OECD reported global steelmaking overcapacity at 630 million tonnes in 2022. This corresponds to 33% of global steel production and is over 60 times the size of the UK market.
Even a small proportion of surplus material ending up in the UK would completely overwhelm the UK market. Most of these imports will be of high-emission steel, particularly as the UK’s CBAM will not be implemented before 2027.