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Wim's News - steel export

Due to changes in EU rules, Great Britain is imposing a 25% tariff on some steel exports to Northern Ireland.

The tariff was announced on Wednesday by HM Revenue and Customs.

The tariff is related to the Northern Ireland Protocol, the post-Brexit deal that ensures Northern Ireland follows EU customs rules.

As a result of Russia’s invasion of Ukraine, the EU has changed some of its rules regarding steel imports.

As a result, Northern Ireland has seen a drop in steel sales from Great Britain.

The complicated background to the issue was described earlier this month by trade expert Sam Lowe.

Northern Ireland had been able to import steel from Great Britain without a tariff because it was covered by a tariff rate quota (TRQ) for UK exports.

In a TRQ, a certain amount of a product can enter customs territory without being charged a tariff, but once a limit has been reached, the tariff applies.

Steel exports from the UK to the EU were subject to a specific TRQ until June.

However, when sanctions were applied to Russia EU businesses could no longer buy steel from there.

Read more here

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