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Friday, 1 April 2016

Import tariffs on Chinese steel - the time is now

It's easy to blame high energy costs for the British steel crisis, but the fact is that we need to drive greenhouse gas emissions down to zero by 2100. That means taxes on high energy use must stay. However, there is another option, and that is to impose import tariffs on Chinese steel in order to protect our own industry. The Chinese are trying to dominate the market in a range of things, they tried to do it with solar panels, so the US and EU slapped import tariffs on them to punish them. That is exactly what we must do with regard to steel. Yes, it might spark off a trade war, but the Chinese, while its important to work with them, also have to be given a sharp rap on the knuckles now and then. It's time to put an end to Tory psycophants bowing down to China, now is the time to get tough with them.

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