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Britain adjusts steel import rules after industry feedback
Britain announced a modification to its steel import restrictions, allowing a 51% increase in duty-free imports to approximately 3.2 million tons. This comes in response to companies' concerns over rising energy costs and the influx of cheap steel. A 50% tariff will be imposed on imports exceeding the duty-free quotas, with 11 non-domestic products exempted. The measures will be reviewed after one year to ensure a balance between protecting the local industry and easing burdens on consumers.
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