The Department for Business and Trade has published a steel industry development plan for public consultation. According to the plan, the British government will inject 2.5 billion pounds (about 3.155 billion US dollars) to support the development of the local steel industry, encourage domestic infrastructure projects to give priority to the use of local steel, and guide steel production enterprises from high-pollution blast furnaces to electric arc furnaces, strengthen scrap recycling, reduce carbon emissions, and promote green transformation. The aim is to ensure the UK steel industry can remain globally competitive and meet the challenges posed by the US steel and aluminium tariffs.
British Business Secretary Jonathan Reynolds said that the offshore wind industry alone will consume 25 million tons of steel by 2050, and this demand will bring 21 billion pounds (about $26.502 billion) of market space for British steel companies.
Statistics released by the UK's Department of Business and Trade show that the US market accounts for 10% of UK steel exports, and the 25% tariff policy announced by US President Trump on all US steel and aluminum imports is expected to cost the UK tens of millions of pounds a year. In addition, a large amount of steel that cannot reach the US market could flood the UK market and drive down prices, hitting UK steel companies.