Johnson Wants to Protect Steel Industry from High Energy Prices

British Prime Minister Boris Johnson is considering taking measures to protect steel producers in his country from the financial consequences of rising energy prices.

 

According to Johnson, there is no such protection mechanism in the United Kingdom, unlike in other countries.

“We have a system where we don’t privilege our industry as some other countries do,” the prime minister said when he arrived in Elmau, Germany, for a three-day meeting between the leaders of the G7 countries. “We have to rectify that.”

As far as Johnson is concerned, the energy bill must be cut considerably for the British steel industry. He did not say what concrete measures he envisaged to realize this. Steel producers in his country should enjoy the same kind of protection from high energy prices as their foreign competitors, as far as the Prime Minister is concerned.

The Sunday Telegraph previously reported that to protect its steel industry, Johnson may want to introduce stricter quotas for steel imports from emerging markets. That move could violate international trade rules.

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