Tata Steel UK has warned the UK government that bilateral trade agreements, including a free trade agreement signed with India, could turn the country into a market for steel imports from Asia at low prices. According to The Telegraph, the company said such trade agreements could weaken the competitiveness of the British steel industry and negatively affect employment in the country. Tata Steel UK also stressed that the increase in cheap imports poses a risk that domestic steel production will become unsustainable. The company's warning came after the UK recently increased duty-free steel import quotas for Asian countries including China, India and Vietnam. It was stated that the additional quota given to India was one of the concessions made during the negotiations on the free trade agreement between India and the United Kingdom. Tata Steel UK stressed that trade policy should be designed in such a way as to protect the competitive conditions of domestic producers, warning that an uncontrolled increase in imports could have long-term negative consequences for steel production capacity in the UK., , ,
, Author:, Editorial staff of SteelRadar,
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