Britain extends steel trade safeguards by two years

Britain will extend a package of tariffs and quotas on steel by a further two years in an effort to protect domestic steelmakers, trade minister Anne-Marie Trevelyan told parliament on Wednesday.

"We have concluded that it is in the economic interest of the UK to maintain the safeguards to reduce the risk of material harm (to UK steel producers) if they were not maintained," Trevelyan said.