Publicly traded steel producer and a key UK state-influenced player in recent consolidation
The UK and EU are working to secure agreements on steel and electric vehicle trade rules. The EU is increasing tariffs on steel imports from July, while the UK aims to negotiate favorable quotas and tariffs to protect its industry. Both sides are exploring closer economic ties amid ongoing trade tensions.
A UK court has found a Border Force officer and a Hong Kong trade official guilty of assisting a foreign intelligence service by spying on Hong Kong pro‑democracy figures and others in Britain. The nine‑week trial, which has marked a rare conviction for Chinese espionage on British soil, will lead to sentencing for the two men in due course.
The UK-India Free Trade Agreement will enter into force on July 15, delivering immediate tariff cuts and a boost to exporters and consumers. Ministers say the deal will improve GDP, wages and bilateral trade in the long run, with firms urged to register to access tariff relief.
Britain has finalised a new steel imports regime to protect domestic producers from global overcapacity. Tariff-free imports will be cut by 51%, with a 50% tariff on goods outside the quota. The measures align with the EU’s approach to counter overcapacity, while allowing a limited volume of imports from 11 specific products to be exempt from tariffs. The changes are to take effect on 1 July and will be reviewed after 12 months.