TTIP means no way back for UK steel industry
The projected impacts of EU-US trade deal the Transatlantic Trade and Investment Partnership (TTIP) on the UK metals sector means there is no way the government will be able to save the steel industry, warns War on Want.
Under official predictions for the controversial trade deal, steel industry jobs will likely be lost as the UK metals sector is set to contract while US metals exports to Europe are set to increase by 120%.
According to a study commissioned by the UK Business, Innovation and Skills Department, within Europe it is only the UK metals sector which is set to suffer.
War on Want Senior Trade Campaigner Mark Dearn said: “While the government claims it will save the UK steel industry, it is championing a secretly negotiated deal which will drive a final nail into the coffin of the sector.
“It is clear from the government’s own figures that it expects the UK metals industry to suffer while US industry is set to see a doubling of its exports.”
He added: “If the government is really concerned about the industry and its workers, it is imperative it spells out how it will address TTIP’s negative impacts on the sector and why it is a cheerleader for a deal that means job losses across Europe and the death knell for the UK metals industry.”
Notes to editors
For further information and interviews, contact John Hilary on +44 7983 550727 or Mark Dearn on +44 7804 289680.
- According to a TTIP study conducted by the Atlantic Council, the Bertelsmann Foundation, and the British Embassy in Washington DC, the US metals sector is predicted to experience a 120% increase in its exports from 2012 levels
- According to the Centre for Economic Policy Research study into TTIP commissioned by the Department for Business, Innovation and Skills, the UK metals sector is set to contract by 1.5% (see p.39)
- The same study outlines that under a “less ambitious” scenario TTIP will lead to 680,000 job losses in Europe. For more information, see this TTIP mythbuster