Britain extends steel trade safeguards by two years

Britain will extend a package of tariffs and quotas on steel by a further two years to protect domestic steelmakers, trade minister Anne-Marie Trevelyan said, adding that the move departs from Britain's obligations to the WTO.

"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 told parliament on Wednesday. Trevelyan said the decision ran counter to Britain's legal obligations at the World Trade Organization but was still justified.

"The government wishes to make it clear to parliament that the decision to extend the safeguards on the five product categories departs from our international legal obligations under the relevant WTO agreement," Trevelyan said. "However, from time to time, issues may arise where the national interest requires action to be taken."

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