In just two weeks, Labour's steel tariffs will kick in and put thousands of jobs at risk.
Tempest, AUKUS subs, drones, and even F1 are being hit with 50% tariffs.
Companies are telling me they are facing oblivion and will cut or offshore jobs if ministers don't act now 👇
The core problem is that the Government is doubling tariffs and slashing quotas on:
- Types of steel not even made here in the UK currently
- Steel coming from our allies in Europe and NATO
Read that again. This not about China. The tariffs apply to our allies and are an invitation for them to retaliate with tariffs on British goods.
This cannot be fixed by buying British - because the supply doesn't exist. Instead, it will mean fewer things made here.
If the steel you now import isn't made in the UK, you can't switch suppliers. You are forced to pay a huge tariff to keep going. Many small manufacturers can't afford that and will cut jobs or shut down.
Buying steel to make something in Britain? 50% tariffs. Make it somewhere else? Lower or no tariffs. In many cases it's that simple.
There are two specific categories of steel included in these tariffs which simply aren't produced in the UK. It would take years to ramp up production, if it's possible at all. By then, jobs will have moved abroad.
Even if you could simply switch suppliers, aerospace and defence are highly technical areas that require certifications and approvals across the supply chain. Getting those can, again, take years.
It's clear ministers have no idea what they are doing here. I don't want to believe they are actually trying to kill British manufacturing, but that will be what happens.
There are just two weeks left to fix this before tariffs kick in. I am already hearing jobs may be cut, British companies may go bust, and future jobs will be moved to France or Italy.
Ministers claim to be aware of the problem, but they haven't put forward a real solution. The first step must be to immediately exempt categories 14 and 27 from the tariffs. Right now.
If the Government don't act now, this could do enormous damage. The clock is ticking.
Conservatives will never stand by and watch the deindustrialisation of Britain.
We back those who make things and we have plans to cut their energy costs, scrap net zero, and get Britain working again.