The British government intends to include steel production in the list of strategically important national security resources of the country, reports The Times, citing its own sources.
The Cabinet Office is preparing new rules according to which government agencies will be able to choose steel from local producers rather than cheaper foreign suppliers when making purchases for all national projects. This approach should help the British industry, which is experiencing a crisis after the introduction of trade tariffs by US President Donald Trump.
Representatives of the British steel industry have warned that the price of steel has fallen by 10% due to competition from foreign products that have flooded the United Kingdom as a result of the closed American market. They predict that the situation will become critical in a month, when the EU restricts steel imports to protect its own production.
Government sources told The Times that the new rules will also apply to other industries, including energy and cyber technologies.
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