Steel Safeguards

Part of the debate – in the House of Commons at 12:43 pm on 29th June 2022.

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Photo of Anne-Marie Trevelyan Anne-Marie Trevelyan The Secretary of State for International Trade and President of the Board of Trade 12:43 pm, 29th June 2022

As I said, these safeguards, which will run for a further two years, are only temporary. They were brought in because, as we transitioned out of the EU, we brought across EU-wide protections, to ensure a fairer balance across a global industry in which there is over-capacity and in which some countries have followed unfair market practices. That has provided assurance, and it has given the industry time to rebalance and think about how it works, so that we manage the shift in imports and exports. As I said, I will continue to work with colleagues across Government to help to tackle the energy challenges we see today. The compensation scheme is obviously in place, and I know that colleagues are happy to discuss that in more detail.