HomeWorldBritain invests more than...

Britain invests more than $ 3 billion in the steel industry

Photo: Getty images

Lawmakers expect to stop the collapse of the industry, which has suffered from rising energy prices, competition from overseas and investment collapse.

In the UK, the government has submitted a new plan for protecting jobs in the country’s steel industry amid the introduction of US President Donald Trump 25% of tariffs for importing steel and aluminum from in all countries. This was reported by Bloomberg with a reference to the statement of business minister Jonathan Reynolds.

According to him, the British government confirmed the obligation to invest 2.5 billion pounds (about $ 3.15 billion) in support of the steel industry. It is noted that the funds will slightly retreat from the new British fund of national welfare.

Through this plan, lawmakers expect to stop the collapse of the industry, which has suffered from rising energy prices, competition from overseas and investment collapse. The money will be spent improving, such as better electric arc stoves designed to help British manufacturers better compete.

It was noted that the new British Steel Plan emerged after the Chancellor of Treasury Rachel Reeves supported the construction plan for the third path at the Gitrou Airport, which would require 400 thousand tonnes of steel.

The new plan aims to expand steel in the UK, protection against impractical trade skills abroad and improving scrap metal processing capacities. He also encourages the use of British Steel in state projects.

Remember, US President Donald Trump announced on February 10 the introduction of 25% of duties for full imports of iron and aluminum in the United States, without exception, and benefits.

It has become known how the new duties of the United States will affect Ukraine

New Vid CORRESPONDENT.NET On the telegram that whatsapp. PIDS Insialle Our Channel https://t.me/KorresPondentNet Ta WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

In Latka, the skeleton of the bend and posts (photographs) was struck

As a result of the Russian attack, the number of death in Latsk increased. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Rescuers owed the body of a 27-year-old dead...

James Gunn confirms post-credit scene in ‘Superman’

With the next launch, the new creative director of the DC universe, James Gunn, confirms that 'Superman' will have scenes you creditsThe premiere of the new Steel Man movie is getting closer and closer and with it news is being released by the producers. 'Superman' will be...

Blackpink’s Jennie joins the list of ‘best albums of 2025, so far’

Blackpink member Jennie enters the list of 'best albums of 2025, so far' pleasing criticism; look!DIVA! With great influence on the music industry, Rolling Stone magazine shares annually in early June the 66 albums considered by its critics the best of the year so far. Including all...

5 Pixar movies that everyone needs to watch

In addition to Toy Story, who was the studio's first long -term movie; Check out 5 more Pixar animations that everyone needs to watch!How many Pixar movies have you watched? The studio, which emerged independently on February 3, 1986 launching only short films, took an important step...

What films make up the age of Disney’s Renaissance?

Find out what are the films responsible for composing one of the most loved eras by fans of Disney productions: the RenaissanceWith over 100 years of history, Disney is one of the main companies of world entertainment. Over the course of a century, the studio was responsible...