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UK to boost domestic steel to 50% of demand by 2030 with import cuts and £2.5B in support.
The UK government announced a new Steel Strategy to boost domestic production to 50% of national demand by 2030, up from 30%, effective July 1, 2026.
It will cut steel import quotas by 60% and impose a 50% tariff on imports exceeding the limit.
The National Wealth Fund will provide up to £2.5 billion to support investments, focusing on cleaner electric arc furnace technology using recycled scrap.
The move, aimed at strengthening national security, infrastructure, and economic resilience, follows government interventions to prevent closures at major plants like Tata Steel’s Port Talbot.
Industry leaders and unions welcomed the plan, calling it a turning point in reversing de-industrialization, though questions remain about plant ownership and long-term implementation.
Reino Unido para impulsar el acero doméstico al 50% de la demanda para 2030 con recortes en las importaciones y £2.5B en apoyo.