President and CEO of Zekelman Industries, Barry Zekelman, one of the largest steel manufacturers in North America, says tariffs can boost domestic production and jobs.
- British steel steel said it could close its two blast stoves immediately in June with potential loss of up to 2,700 jobs. US tariffs and environmental costs endanger its already combat operations.
- British steel has been warning for years that making steel in Scantorp, north-eastern England, has been a loss and has been talking to the government for months to secure funding to switch to greener steel production. But both sides failed to reach an agreement.
- The British government has set £ 2.5 billion to the steel industry and should publish a strategy for its plans for the sector in the spring of 2025.
British steel owned by China said it could close its two blast stoves immediately in June with potential loss of up to 2,700 jobs, as US tariffs and environmental costs threaten to damage their combat operations.
British steel, owned by Chinese group Inginge, has been warning for years that making steel in Scantorp, north-eastern England, is a loss and is In conversations with the government For months to provide funding to switch to greener steel production.
But the two sides failed to reach an agreement, and British steel said on Thursday that the “difficult decision” was to start a consultation on the closure of its explosion stoves and other related operations.
China of US leaders of US business leaders in tariff war with Trump
Endangered closures have been the culmination of decades of drop in the British steel industry, which fought to compete with low -cost imports given the high energy costs of domestic production.
“Explosion stoves and steel operation are no longer financially sustainable due to high challenging market conditions, imposition of tariffs and higher environmental costs regarding high-carbon steel production,” British Steel said in a statement on Thursday.
American president Donald Trump imposed global tariffs Of the 25% of the entire import of steel on March 12, which deals with another British steel blow, which says its Scunthorpe operations lose $ 905,240 a day.
General view of part of the British Steel Lakbibi plant in Redkar, UK, on November 7, 2023. (Reuters / Phil Noble / Reuters)
UK steel exports to the United States are worth more than £ 400m a year, according to the UK Steel Body industry, or about 5% of steel exports in the UK.
British steel said consultations with unions are launching, and proposed imprisonment may affect between 2,000 and 2,700 jobs – subject to consultation – with June the earliest possible closing date. The web site employs a total of 3,500.
British steel has said it will continue to work with the government to investigate business options. UK Business Minister Athonatan Reynolds said the couple were in “continuous negotiations” and he was focused on getting the right taxpayer agreement.
“I need job guarantees if I put public money,” he told the event Thursday.
The steel was first made in Scantorp in 1890 and if the closure goes forward, the UK, which in the nineteenth century was the largest in the world Steel makerThere would be no blast stoves anymore.
The ground instead of switching to less carbon-intensive electric bows, which make new steel from recycled steel.
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That switch is expensive. He invests £ 500m in Tata Steel in Port Talbot, Wales, to build a new electric arc stove due to open in late 2027 or early 2028. Closing the blast oven there resulted in about 2,800 job losses.
The offer rejected by British steel was an investment in the £ 500m government, Sky News reported.
The government has appointed £ 2.5 billion for the steel industry and should publish a strategy for its plans for the sector in the spring of 2025.
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