British steel is facing its biggest crisis in its history after the EU announced it will fast-track plans to cut the amount of steel that can be imported tax-free into the bloc, increasing the tariff rate from 25pc to 50pc to protect the European sector.

British steel is facing its biggest crisis in its history after the EU announced plans for 50pc tariffs on imported UK steel(Image: Danny Lawson)

The UK exported 78pc of its steel - 1.9 million tonnes - to the EU last year, producing four million tonnes of steel for both domestic and foreign markets.

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"Companies could be forced to downsize and lay people off, or the worst case scenario is that they end up closing," said Roy Denyer, sales director at Thetford-based Pegasus Profiles, which cuts and processes steel plate for a range of industries and applications.

Roy Denyer, sales director at Pegasus Profiles in Thetford(Image: Sonya Duncan)........

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