Johnson of the United Kingdom says he wants to protect steelmakers from energy costs

Germany’s Schloss Elmau — UK Prime Minister Boris Johnson said on Sunday that it makes sense to consider ways to protect British steelmakers from rising energy costs, which is less of a problem for competitors in other countries. ..

“The UK has a system that does not give the industry privileges like other countries,” Johnson said when he arrived in Germany for a meeting with a group of seven leaders.

“We need to fix that. British Steel needs to supply much cheaper energy and cheaper electricity for the blast furnace. But until we can fix it, British steel will have the same protection. I think it’s rational to do. “

The Sunday Telegraph said Johnson is calling for tighter allocations of steel imports from emerging economies to protect domestic producers. This is a move that may violate international trade rules.

The UK proposed Thursday to extend the existing tariff and quota package for five steel products for another two years to protect domestic steelmakers.

However, The Sunday Telegraph said broader measures have been finalized for next week’s announcement.

Johnson said Britain should not unilaterally eliminate tariffs unless other European countries do so.

“I don’t think that’s the right path. I want another solution. The difficulties are: Is it possible to do it while staying within the obligations of our World Trade Organization? That’s the problem. But these are the difficult choices you have to make. “

Johnson’s Conservatives lost two by-elections last week, including a by-election in an industrial zone that historically supported the opposition Labor Party.



Posted on