Non-motoring > British Steel Miscellaneous
Thread Author: Fullchat Replies: 5
View Threaded 

New Fri 26 Jan 18 12:45 
 British Steel - Fullchat
Living not too far from the steel town of Scunthorpe it's issues feature in the local news.
It was not too long ago that Steel production in the UK was suffering massively at the hands of cheap Chinese imports.
Last night it was reported that the Scunthorpe was to be exporting large amounts of steel to Shanghai for a project there.
How things quickly change.
Reply to this message | Report message
       
New Fri 26 Jan 18 13:26 
 British Steel - Dog
"Thankfully this deal was signed before Brexit day otherwise the existing trade agreement between China and EU that UK relies on wouldn't apply and steel would have massive tariffs in it! The global trade agreements we have as part of the EU are very useful"

www.scunthorpetelegraph.co.uk/news/scunthorpe-news/scunthorpe-steel-helping-build-worlds-1113058

The old jokes are the best :o)
Reply to this message | Report message
       
New Fri 26 Jan 18 14:41 
 British Steel - Duncan
Explain the joke - slowly - to me, please.

Quote:-

"However, two thirds of voters in North Lincolnshire backed Brexit in the referendum".
Reply to this message | Report message
       
New Fri 26 Jan 18 14:54 
 British Steel - Dog
>>steel would have massive tariffs in it!

Project fear.
Reply to this message | Report message
       
New Fri 26 Jan 18 19:10 
 British Steel - PeterS
My understanding was that the tariffs were on steel being exported from China, not imported into it, since the fear of the Europeans was that the Chinese were subsiding steel manufacturing, leading to a potential dumping of steel into the EU at below cost of production. I don’t recall ever reading that the Chinese proposed apply tariffs to imports into China?

In fact. I seem to recall that the concern at the time was that if we (the UK) weren’t in the EU and were in a post BREXIT world the tariffs the Europe had imposed / negotiated would not apply, just WTO terms (lower tariffs) and that therefore dumping of steel into the UK would increase, threatening British Steel (who I though had rebranded?)
Last edited by: PeterS on Fri 26 Jan 18 at 19:11
Reply to this message | Report message
       
New Fri 26 Jan 18 19:33 
 British Steel - Dog
British Steel Corporation is owned by TATA.

British Steel Ltd, which includes the Scunthorpe works, is owned by a UK private investment company.

en.wikipedia.org/wiki/British_Steel

Reply to this message | Report message
       
Latest Forum Posts