Commenting on the announcement of an extension to the EU exemption from US steel tariffs, UK Steel Director, Gareth Stace said:
“Today’s announcement will be greeted with a certain sense of relief from UK steel producers. As the exemption deadline edged ever closer with no sign of a deal being struck, we had increasingly been expecting the worst and the immediate introduction of tariffs. A further extension to the EU exemption gives us a little more breathing room to continue discussions and find a way through the current impasse to reach a permanent agreement that works for all parties.
“However, this extension comes with a health-warning. 30 days does not give us much time and all signs point towards a US insistence on the restriction of steel exports by its allies. Such an outcome would be viewed in a dim light by many here; indeed for some it could have a greater impact than tariffs alone."