All news on the topic: Steel industry

The former owner of British Steel has said it will pursue the British government for compensation after the loss-making firm was nationalised.

British Steel has been taken into public ownership in what the government said was a bid to "protect UK steelmaking".

Ministers have already spent hundreds of millions keeping British Steel afloat. Nationalizing the struggling steelmaker is set to cost taxpayers billions more, multiple steel industry figures.

Companies have sent a letter to the business secretary complaining that new rules were imposed with only 24 hours’ notice.

President Donald Trump’s increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade in favor of the U.S. and drawing swift retaliation from Europe.

Donald Trump has doubled planned tariffs on imports of Canadian steel and aluminium from 25% to 50%.

The announcement by the US president leads the government to release a green paper earlier than planned by several weeks.

Move would be last-ditch attempt to save thousands of UK jobs amid standoff with company’s Chinese owners